Nonresidential Construction Spending Dips in August, Says ABC
National nonresidential construction spending fell 0.4% in August, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. Nonresidential spending totaled $788.6 billion in August on a seasonally adjusted annualized basis, down 3.0% from August 2020. Spending declined on a monthly basis in 10 of the 16…
ABC’s Construction Backlog Indicator Plummets in August; Contractor Confidence Down
Associated Builders and Contractors reports today that its Construction Backlog Indicator fell sharply to 7.7 months in August, according to an ABC member survey conducted Aug. 19 to Sept. 1. The reading is down 0.8 months from July 2021 and down 0.3 months from August 2020. ABC’s Construction Confidence Index readings for sales, profit margins…
Dodge Momentum Index Loses Steam in August
The Dodge Momentum Index dropped 3% in August to 148.7 (2000=100) from the revised July reading of 154.0. The Momentum Index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a…
Nonresidential Construction Spending Weak in July, Says ABC
National nonresidential construction spending expanded 0.1% in July, 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 $786.7 billion for the month. However, spending was down on a monthly basis in six of 16 nonresidential subcategories. Spending in…
Construction Employment Trails Pre-Pandemic Level In 39 States As Supply Chain Challenges, Rising Materials Prices Undermine Demand
Construction employment in June remained below the levels reached before the pre-pandemic peak in February 2020 in 39 states, according to an analysis by the Associated General Contractors of America of government employment data released today. Association officials noted that many construction firms are struggling to cope with supply chain challenges and rising materials prices, which is…
Construction Input Prices Rise 2.8% in June, Says ABC
Construction input prices increased 2.8% in June compared to the previous month, according to an Associated Builders and Contractors analysis of Producer Price Index data released today by the U.S. Bureau of Labor Statistics. Nonresidential construction input prices increased 2.9% for the month. Construction input prices are 24.8% higher than a year ago, while nonresidential construction…
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…
