Construction Input Prices Rise 4.6% in May; Softwood Lumber Prices Up 154% From a Year Ago, Says ABC
Construction input prices increased 4.6% in May 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 4.8% for the month. Construction input prices are 24.3% higher than a year ago, while nonresidential construction input…
ABC’s Construction Backlog Inches Higher in May; Materials and Labor Shortages Suppress Contractor Confidence
Associated Builders and Contractors reports today that its Construction Backlog Indicator rose to 8.0 months in May, according to an ABC member survey conducted from May 20 to June 2, 0.1 months higher than in April 2021 and May 2020. While ABC’s Construction Confidence Index readings for sales increased modestly in May, confidence regarding profit…
The Coronavirus Economy in Transition: Outlook for 2021-22
Mid-year is approaching. Stimulus money is flowing. The share of the U.S. population receiving virus vaccinations is soaring, “Now Hiring” signs are dotting the landscape, and the Communicable Disease Center has partly relaxed its mask requirement. Flush with money and less fearful, the American consumer is shopping again. Finally, it seems, the U.S. economy has…
Today’s Cyber Risk Landscape for Architecture, Engineering and Construction
You may not immediately recognize the need for data security, password management or disaster recovery as an organization in the Architecture, Engineering and Construction (AEC) industry, but COVID-19 has led to more malicious activity and a sharp increase in cybercrime. Eighty percent of firms have seen a rise in cyberattacks this past year. The FBI…
The Construction Project Manager’s Early Warning System
The construction project manager’s job gives new meaning to the term “multitasking” and each person multitasks differently. Effective project management needs to be standardized to effectively keep track of the smallest details while never losing sight of the big picture for a construction company. Construction project management is an in-the-weeds job at the project level…
Fluor Sells AMECO North America to One Equity Partners for $73 Million
Fluor Corporation (NYSE: FLR) announced today the divestiture of its North American equipment and fleet services business, AMECO, to One Equity Partners for $73 million. This transaction is another significant step in completing the AMECO divestiture announced by Fluor in September 2019. Fluor previously sold its AMECO Caribbean business in Jamaica in August 2020 and is actively marketing its…
Nonresidential Construction Spending Down 1.3% in February, Says ABC
National nonresidential construction spending declined 1.3% in February, 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 $789.5 billion for the month. On a monthly basis, spending was down in 13 of 16 nonresidential subcategories. Private nonresidential spending…
With the Ides of March Upon Us, What’s the Economic Situation?
With 2021’s first two months under our belt, a new administration in the White House, and better virus news at hand, what can we say about the economic situation, especially as it relates to the Carolinas and our region? More specifically, what do the soothsayers predict for national GDP growth, interest rates, and inflation? Will…
Monthly Construction Input Prices Rise 2.1% in February, Says ABC
WASHINGTON, March 12, 2021 — Construction input prices rose 2.1% in February 2021, 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 also increased 2.1% for the month. Construction input prices are up 7.6% from February 2020, and nonresidential construction input…
Monthly Construction Input Prices Surge 2.5% in January, Says ABC
Construction input prices increased 2.5% in January 2021 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 rose 2.1% for the month. Construction input prices rose 4.8% from a year ago. Nonresidential construction input prices…
