Your source for construction industry news in the Carolinas
National nonresidential construction spending decreased 0.1% in November, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau on Jan. 2. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.143 trillion. Spending was down on a monthly basis in 11 of the 16 nonresidential subcategories. Private nonresidential spending…
As the U.S. economy enters 2022’s final quarter, the economic situation is bothtroublesome and puzzling. With interest rates rising, and GDP growth falling, it isdisturbing because the year’s weak GDP growth coupled with three negative forcesplaying through the economy, offer the strong possibility that 2023 will be an evenweaker negative growth year. Of course, we…
The Conference Board Leading Economic Index® (LEI) for the U.S. decreased by 0.4 percent in July 2022 to 116.6 (2016=100), after declining by 0.7 percent in June. The LEI was down by 1.6 percent over the six-month period from January to July 2022, a reversal from its 1.6 percent growth over the previous six months. “The US LEI declined for a…
FMI Corporation, the leading provider of consulting and investment banking services to the built environment, released the 2022 Engineering and Construction Industry Overview today. The report provides a comprehensive forecast for a broad range of construction and engineering segments in the U.S. and Canada for 2022. Entering 2022, FMI expects construction spending to increase by 5%. But…
WASHINGTON, May 15, 2020 —Associated Builders and Contractors Chief Economist Anirban Basu warned the economic recovery following the COVID-19 outbreak would be quite different for the nonresidential construction industry compared to previous recessions, according to an economic outlook published in Construction Executive magazine. Normally, construction backlog, which stood at 8.2 months in February, according to ABC’s…
Renowned economist Dr. Harry Broadman will offer groundbreaking insights to shape how North Carolina businesses can and should gain advantage in the global economy at upcoming speaking engagements in Charlotte and Raleigh. Sentinel will host Broadman on November 7 at the Mint Museum Uptown in Charlotte, and on November 8 at the Carolina Country Club…
A fixture the in the Carolinas, Dr. Bruce Yandle released his quarterly Economic Situation Report. Yandle prospects for 2018 were positive. “These can be summarized in a simple statement: if you felt good about 2017, you should look forward to 2018,” he wrote. “In other words, don’t expect to see major changes in the nation’s…
Nonresidential construction spending rose 2.1 percent in October, totaling $717.6 billion on a seasonally adjusted basis, according to an Associated Builders and Contractors (ABC) analysis of data released by the U.S. Census Bureau. The level of spending, however, remains virtually unchanged from a year ago. Ten of the sixteen subcategories experienced positive growth, with educational…
Construction input prices rose 0.2 percent in June, according to an analysis of Bureau of Labor Statistics data released today by Associated Builders and Contractors (ABC). This represents the sixth increase in construction input prices over the past seven months, but the overall rate of increase has been quite slow. On a year-over-year basis, construction…
