Contractors Foresee Gains In All Market Segments In 2020
Construction spending rose 4.1 percent from November 2018 to November 2019, while industry employment grew in 226, or 63 percent, out of 358 metro areas, according to a new analysis of federal data released today by the Associated General Contractors of America. Association officials noted that its recent survey found most contractors are optimistic about the dollar…
Nonresidential Construction Falls in November, Says ABC
National nonresidential construction spending declined 0.3% in November but is up 5.1% year over year, 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 $781.1 billion, 1.8% lower than the cyclical peak in April 2019. Private nonresidential spending fell…
Construction Input Prices Down in November, Says ABC
Construction input prices decreased 0.5% in November and are down 1.1% year over year, 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 decreased 0.4% for the month and are down 1.0% since November 2018. Natural gas (-29.9%)…
TurnPoint Services Acquires Corley Plumbing Air Electric in Greenville, SC
TurnPoint Services Group (“TurnPoint”) today announced it has acquired Corley Plumbing Air Electric (“Corley”) in Greenville, South Carolina. Founded in 1986, Corley is a leading provider of essential home services in the Upstate region of South Carolina, and focuses exclusively on maintenance, repair and replacement services for residential and commercial customers. The company’s well-trained technical…
ABC’s 2020 Construction Economic Forecast: Momentum Persists, Despite Uncertainties
Associated Builders and Contractors Chief Economist Anirban Basu forecasts continued momentum for the construction sector next year but advised an overall “wait-and-see” approach based on leading and lagging indicators and economic uncertainties, according to a 2020 economic outlook published in Construction Executive magazine. Although ABC’s Construction Backlog Indicator—a leading indicator that reflects projects under contract yet to be executed—climbed…
Dodge Momentum Index Increases in November
The Dodge Momentum Index moved 2.9% higher in November to 155.3 (2000=100) from the revised October reading of 150.9. 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…
Nonresidential Construction Employment Rises in November, Says ABC
The construction industry added 1,000 net new jobs in November, 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 146,000 jobs, an increase of 2.0%. Nonresidential construction employment increased by 1,600 jobs on net in November…
Hilti Introduces World’s First Cordless Breaker
Hilti Inc.expands its industry-leading cordless tool offering with the addition of the world’s first cordless breaker, the TE 500-A36. Specifically engineered for the challenges associated with breaking concrete and masonry, this new tool gives construction professionals the power of a corded breaker with the mobility and productivity of a cordless solution. Hilti continues to build upon…
Nonresidential Construction Spending Falls in October, Says ABC
National nonresidential construction spending fell 0.7% in October but is up 1.4% compared to the same time last year, 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 $776.5 billion, 2.3% lower than the cyclical peak attained in April…
Top Construction Careers for 2020
Construction careers are on the rise because, in this industry, there is a labor shortage. Therefore, there are a lot of job opportunities with growing salaries. According to the Associated General Contractors of America, in 2019, construction employment has increased by 279,000 jobs, and the employment rate stood at an all-time low. Construction is the industry…
