Your source for construction industry news in the Carolinas
New development of commercial real estate and of the ongoing operations of existing commercial real estate buildings in the United States – office, industrial, warehouse and retail – supported 8 million American jobs, contributed $1.01 trillion to the U.S. GDP in 2020, and generated $338.1 billion in personal earnings – according to “Economic Impacts of…
The arrival of December often signals a time to take a hard look at the closing year’s activity, consider key events and issues, and offer thoughts on the prospects for the year ahead. But this year writing this sentence is a lot easier than following through. Indeed, the year now ending, beset as it was…
The Conference Board Leading Economic Index® (LEI) for the U.S. increased 1.4 percent in July to 104.4 (2016 = 100), following a 3.0 percent increase in June and a 3.1 percent increase in May. “The US LEI increased for the third consecutive month in July, albeit at a slower pace than the sharp increases in the previous two…
Despite substantial revisions to the components constituting real GDP, headline growth expectations on a quarterly and full-year basis were only slightly changed compared to last month, according to the latest commentary from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group. The ESR Group now expects second quarter 2020 real GDP to fall 37.0 percent annualized, compared…
WASHINGTON, June 9—Associated Builders and Contractors reported today that its Construction Backlog Indicator rose to 7.9 months in May, an increase of less than 0.1 months from April’s reading. Furthermore, based on an ABC member survey conducted May 20-June 3, results indicate that confidence among U.S. construction industry leaders continued to rebound from the historically low…
WASHINGTON, March 17, 2020 — Associated Builders and Contractors reported today that its Construction Backlog rose to 8.9 months in January 2020, a 5.9% increase from December’s reading. Backlog for firms with less than $30 million in revenues expanded by nearly 20% after declining sharply in December. “This represents yet another reminder that nonresidential construction and…
FMI Corporation, the leading provider of consulting and investment banking services to the Built Environment, is pleased to announce the release of the first quarter 2020 CIRT Sentiment Index. The CIRT Sentiment Index is a survey, conducted quarterly by FMI, of members of the Construction Industry Round Table. The CIRT is composed exclusively of approximately…
WASHINGTON, Feb. 18, 2020 — Associated Builders and Contractors reported today that its Construction Backlog Indicator fell to 8.4 months in December 2019, a 4.2% decline from November’s reading. This appeared to be due primarily to seasonal factors. “December’s nonresidential construction backlog fell to the reading’s lowest level since January 2019,” said ABC Chief Economist Anirban Basu. “This…
The construction industry added 44,000 net new jobs in January, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 142,000 jobs, an increase of 1.9%. Nonresidential construction employment increased by 23,800 jobs on net in January…
Where are financial markets headed in 2020? If you ask the major Wall Street firms, you will get the same answer you always get. Most are predicting mid to high single digit gains with a few outliers on both sides, which is pretty much the same story every year. As we recap 2019 and discuss…
