Marcum’s Q2 2023 Construction Index: Industry Battles Headwinds but Manufacturing-Related Construction Soar
The Marcum Commercial Construction Index for the second quarter of 2023 reports that the construction industry retained momentum through the first half of the year despite ongoing headwinds in the form of labor shortages, high borrowing costs, and tight credit conditions. While certain segments, like manufacturing-related construction, have continued to surge, spending in other segments has moderated…
ABC’s Construction Backlog Indicator Up in July, Contractors Remain Confident
Associated Builders and Contractors reported today that its Construction Backlog Indicator increased to 9.3 months in July, according to an ABC member survey conducted July 20 to Aug. 4. The reading is up by 0.6 months since July 2022. View the full Construction Backlog Indicator and Construction Confidence Index data series. The South remains the region…
Marcum Releases the 2023 National Construction Survey: Construction Industry Navigating Rising Interest Rates and Economic Challenges
The construction industry is grappling with the implications of rising interest rates, inflation, and changing economic dynamics, according to Marcum’s 2023 National Construction Survey. The annual survey is conducted by Marcum, one of the leading construction accounting firms in the country. The survey covers a range of topics, from top priorities to problems, strategies, possible solutions,…
Monthly Construction Input Prices Decrease in May, Says ABC
Construction input prices fell 0.6% in May 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 declined 0.5% for the month. Overall construction input prices are 3.7% lower than a year ago. Nonresidential construction…
The CPM System is Broken. It’s Takt Time.
Construction projects are inherently complex, requiring careful planning and execution to ensure success. The most common scheduling method in construction is known as the Critical Path Method (CPM) and it’s broken. This scheduling method has proved itself unsuccessful on vertical construction projects time and time again. CPM was originally created for Dupont Chemical while attempting…
ABC Construction Backlog Indicator Rebounds in April Due to Infrastructure Category Strength
Associated Builders and Contractors reported today that its Construction Backlog Indicator increased to 8.9 months in April from 8.7 in March, according to an ABC member survey conducted April 20 to May 3. The reading is 0.1 months higher than in April 2022. View the historic Construction Backlog Indicator and Construction Confidence Index data series. After…
Construction Materials Prices Rise 0.5 Percent In April While Bid Prices Slip, Reversing Recent Pattern And Squeezing Contractor Profits
Double-Digit Annual Cost Increases Persist for Several Materials Despite Recent Price Declines for Some; Association Officials Say Administration’s Approach to Buy America Rules is Contributing to Price Inflation The price of materials and services used in nonresidential construction increased 0.5 percent from March to April, while an index that measures contractors’ bid prices declined 0.3 percent,…
Construction Employment Decreases By 9,000 in March, Says ABC
The construction industry lost 9,000 jobs on net in March, 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 grown by 196,000 jobs, an increase of 2.5%. Nonresidential construction employment fell by 1,800 positions on net, with declines…
Nonresidential Construction Spending Continues to Increase in February, Says ABC
National nonresidential construction spending increased 0.4% 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 $982.2 billion for the month. Spending declined on a monthly basis in 9 of the 16 nonresidential subcategories. Private nonresidential spending…
Construction Employment Increases In 283 Of 358 Metro Areas From February 2022 To 2023 As Job Openings Show Need For Even More Workers
Construction employment increased in 283, or 79 percent, of 358 metro areas between February 2022 and February 2023, according to an analysis by the Associated General Contractors of America of new government employment data. Meanwhile, new government data shows there were more job openings in the industry than the number of people hired last month. Association officials said…
