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…
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…
