Construction Input Prices Rise in May, Says ABC
WASHINGTON, June 11, 2020 — Construction input prices rose 0.8% 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 rose by 0.8% for the month as well. Of the 11 subcategories, only three experienced…
Marcum Issues 1st Quarter Construction Index
The Marcum Commercial Construction Index for the first quarter of 2020 reports an industry suffering the adverse effects of COVID-19. Construction employment fell by nearly one million jobs from March to April 2020, a decrease of 12.8 percent. The industry’s unemployment rate increased from 6.9 percent in March to 16.6 percent in April, the highest level since…
Nonresidential Construction Spending Falls in April, Says ABC
WASHINGTON, June 1, 2020 — National nonresidential construction spending decreased by 1.8% in April, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled $801.8 billion for the month, a 0.9% increase from April 2019. Of the 16 subcategories, 13 were…
Autodesk Construction Cloud Adds Assets Module, Allowing Teams to Track Project Assets Through Entire Building Lifecycle
Autodesk, Inc. (NASDAQ: ADSK) today announced the early release of the BIM 360 Assets module within Autodesk Construction Cloud. The BIM 360 Assets module enables construction teams to track and manage project assets through the entire building lifecycle – from design through handover – from one centralized location. The new module also gives construction teams increased access…
ABC Economist on Economic Recovery for Nonresidential Construction
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…
CORE+Flex: The Labor Strategy Contractors are Implementing as Crisis Restrictions Ease Up
Press Release Construction contractors learned, out of necessity, how to approach labor strategy back in 2011 through 2015 as the Great Recession-crippled economy slowly rebounded. Because of industry uncertainty at the time, they found it safer and prudent to run a much leaner full-time workforce than prior to the 2009 recession, comprised only of their…
How to Deal with (and Prevent) Commercial Construction Delays
As nearly anyone who works in commercial construction will tell you, delays are a big problem in the industry. How big? A McKinsey study found that a staggering 98 percent of megaprojects (those with budgets over $1 billion) faced cost overruns or delays. Another study found that 60 percent of construction cost overruns at all budgetary levels are due…
Nonresidential Construction Employment Sees Record Loss in April, Says ABC
The construction industry lost 975,000 jobs on net in April, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. This was the largest recorded decrease in construction jobs since the government began tracking employment in 1939, despite construction remaining an essential industry in much of the…
Nonresidential Construction Spending Declines In March As Pandemic Halts Projects
May 1, 2020, Washington, DC – Numerous impediments to completing construction projects led to declines in most categories of private construction spending in March, according to an analysis by the Associated General Contractors of America of government data released today. Association officials warn that the Treasury Department’s threats to audit or prosecute some Paycheck Protection…
ToolWatch® Leads Rollout of DEWALT® Tool Connect™ Systems Integration
Press Release ToolWatch, a powerful, flexible platform for tool, equipment, materials and consumables management, announces a technology integration with DEWALT, a leading manufacturer of professional power tools, hand tools, storage and accessories. As the pilot developer building to the DEWALT Tool Connect system, ToolWatch and DEWALT are working together to improve the overall tool ownership…
