Nonresidential Construction Spending Attains All-time High in January, Says ABC
WASHINGTON, March 2, 2020 — National nonresidential construction spending increased by 1.6% in January and is up 5.1% on a year-ago basis, 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 a record $806.9 billion in January. Private nonresidential spending…
Construction Contractor Confidence Remains Steady, Says ABC
WASHINGTON, Feb. 20, 2020 — Confidence among U.S. construction industry leaders held steady in December 2019 after surging in November, according to the Associated Builders and Contractors Construction Confidence Index released today. The average American contractor entered 2020 with confidence: Sales expectations, profit margins and staffing levels all remained above the growth expectations threshold, indicating a…
Monthly Construction Input Prices Rise Slightly in January, Says ABC
WASHINGTON, Feb. 19, 2020 — Construction input prices rose 0.3% in January compared to December 2019 and are up 1.9% 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 were flat for the month and are up…
ABC’s Construction Backlog Indicator Falls to Close 2019
WASHINGTON, Feb. 18, 2020 — Associated Builders and Contractors reported today that its Construction Backlog Indicator fell to 8.4 months in December 2019, a 4.2% decline from November’s reading. This appeared to be due primarily to seasonal factors. “December’s nonresidential construction backlog fell to the reading’s lowest level since January 2019,” said ABC Chief Economist Anirban Basu. “This…
Nonresidential Construction Employment Rises in January, Says ABC
The construction industry added 44,000 net new jobs in January, 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 142,000 jobs, an increase of 1.9%. Nonresidential construction employment increased by 23,800 jobs on net in January…
Viewpoint: Vote Against the PRO Act
Big labor is pushing the Protecting the Right to Organize Act, which aims to boost the number of dues-paying union members at the expense of workers, entrepreneurs and small and local businesses. Scheduled for a vote in the U.S. House of Representatives Thursday, this legislation would hamper the South Carolina construction industry’s ability to grow,…
U.S. Economy Expands 2.1% in 4th Quarter; Investment in Structures Contracts, Says ABC
The U.S. economy expanded at an annualized rate of 2.1% in the fourth quarter of 2019, despite investment in structures declining at an annualized rate of 10.1%, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Economic Analysis. Investment in structures contracted for three consecutive quarters and…
Monthly Construction Input Prices Rise Slightly in December, Says ABC
Construction input prices rose 0.2% in December 2019 and are up 1.0% 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 rose 0.3% for the month and are also up 1.0% since December 2018. Natural gas…
Construction Employment Increase, Contractors Expect Difficulties Finding Workers
Construction employment increased by 20,000 jobs in December and by 151,000, or 2.0 percent, in all of 2019, according to an analysis of new government data by the Associated General Contractors of America. Association officials noted that its recent survey found three out of four contractors expect to keep adding workers in 2020, but even more respondents…
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…
