Construction Job Growth Rebounds in 2017, ABC Says

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WASHINGTON, D.C. – National construction employment started 2017 on a high note, adding 36,000 net new jobs on a seasonally adjusted basis in January, according to analysis of U.S. Bureau of Labor Statistics data released by the Associated Builders and Contractors. The 0.5 percent increase represents the best month for construction employment growth since March of 2016. The nonresidential construction sector added 14,900 net new jobs for the month, while its residential counterpart added 20,300 net new jobs (note that these don’t sum to the total due to rounding). The construction industry added 170,000 net new jobs on a yearly … Read more

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ABC Predicts Modest Growth for 2017 Nonresidential Construction Sector

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WASHINGTON, D.C. – Associated Builders and Contractors forecasts a slowdown of growth in the U.S. commercial and industrial construction industries in 2017. While contractors are vulnerable to rising commodity prices and potential interest rate increases in 2017, the middling consumer-led recovery should still lead to modest growth in construction spending and employment. “The U.S. economy continues to expand amid a weak global economy and, despite risks to the construction industry, nonresidential spending should expand 3.5 percent in 2017,” said ABC Chief Economist Anirban Basu. “For more than two years, the Federal Reserve has been able to focus heavily on stimulating … Read more

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Construction Spending Increases, Residential and Public Gains Offset Drop in Private Nonresidential Projects

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Construction spending was mixed in October as a rebound in residential and public categories outweighed a downturn in most private nonresidential segments, according to a recent analysis by the Associated General Contractors of America. Association officials noted, however, that public investments in infrastructure remain down compared to last year while private-sector demand should remain robust amid continued economic growth. “It’s encouraging to see a rebound in public construction in recent months, but most infrastructure categories are down substantially over the past year,” said Ken Simonson, the association’s chief economist. “Meanwhile, private nonresidential construction still appears to have good prospects, assuming … Read more

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Nonresidential Fixed Investment Expands Again During Solid Third Quarter, ABC Reports

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WASHINGTON, D.C. – Real gross domestic product expanded 2.9 percent on a seasonally adjusted annualized rate during the third quarter of 2016, according to an analysis of Bureau of Economic Analysis data recently released by Associated Builders and Contractors. This follows a 1.4 percent increase during the second quarter and represents the tenth consecutive quarter of economic expansion. Nonresidential fixed investment, a category closely aligned with construction and other forms of business investment, expanded at a 1.2 percent annualized rate during the third quarter after growing 1 percent during the second. Investment in structures led the way, increasing by 5.4 … Read more

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Nonresidential Spending Slips in August

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WASHINGTON, D.C. — Nonresidential construction spending fell for a second consecutive month in August, according to a recent analysis of U.S. Census Bureau released by Associated Builders and Contractors. Nonresidential spending totaled $686.6 billion on a seasonally adjusted, annualized basis for the month, 1.1 percent lower than July’s total of $694.1 billion (revised down from $701 billion) and 1.3 percent below August 2015’s figure. Private nonresidential construction spending fell just 0.4 percent for the month, while its public sector counterpart shrank 2 percent. Four of the five largest nonresidential subsectors—power, highway and street, commercial and manufacturing—combined to fall 2.2 percent … Read more

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