Your source for construction industry news in the Carolinas
The construction industry continues to grow, but a closer examination of the latest economic indicators reveals an increasingly divided market. While data center development is generating extraordinary demand for construction services, much of the broader industry is experiencing slower growth, tightening margins, and renewed uncertainty. For construction companies operating in North Carolina and South Carolina,…
Total construction starts rose 6% in August to a seasonally adjust annual rate of $1.2 trillion, according to Dodge Construction Network. Residential starts rose 5%, nonbuilding starts gained 17%, while nonresidential buildings fell 2% in August. On a year-to-date basis through August, total construction starts were up 4% from the first eight months of 2023. Residential…
Construction input prices increased 0.5% in April compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics Producer Price Index data released today. Nonresidential construction input prices increased 0.6% for the month. Overall construction input prices are 2.3% higher than a year ago, while nonresidential construction…
The Dodge Momentum Index (DMI), issued by Dodge Construction Network, fell 1.4% in February to 180.5 (2000=100) from the revised January reading of 183.0. Over the month, commercial planning fell 2.3% and institutional planning ticked up 0.1%. “Weaker office and healthcare planning constrained nonresidential planning in February,” stated Sarah Martin, associate director of forecasting for Dodge. “However,…
National nonresidential construction spending grew 0.9% in November, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $930.1 billion for the month. Spending was up on a monthly basis in nine of the 16 nonresidential subcategories. Private nonresidential…
Construction spending on buildings is projected to increase just over nine percent this year and another six percent in 2023, according to a new report from the American Institute of Architects (AIA). While the outlook for the broader economy has become more uncertain, the prospects for construction spending have improved since the beginning of the…
Nashville, Tennessee will always be known as “Music City, U.S.A.,” but with cranes sweeping the skyline and cones lining almost every thoroughfare, Nashville might also be called “Boomtown” right now. Like many other cities across the Southeast, businesses are moving to Nashville and families are following. More than 11,000 building permits were issued in the…
How is your company handling escalating costs and supply chain issues to minimize the impact on your clients? With prices for essential construction and HVAC parts rising, deliveries taking twice as long and material prices reaching a 35-year high, our industry is experiencing a crisis with little short-term relief in sight. In a recent article…
WASHINGTON, Dec. 15, 2020 — Associated Builders and Contractors’ Chief Economist Anirban Basu forecasts a recession threat for the construction sector next year, but has illuminated some potential economic bright spots, such as e-commerce and Class B office space, according to a 2021 economic outlook published in Construction Executive magazine. Although ABC’s Construction Backlog Indicator—a leading indicator…
WASHINGTON, Dec. 11, 2020 — Construction input prices fell 0.5% in November compared to the previous month, according to an Associated Builders and Contractors analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data released today. Nonresidential construction input prices fell 0.4% for the month. Construction input prices increased 0.9% between November 2019 and…
