Monthly and Yearly Construction Input Prices Drop in August, Says ABC
Construction input prices fell 0.6% in August and are down 0.9% year over year, 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 fell 0.4% for the month and are down 0.4% compared to August 2018. Among the seven subcategories…
FMI Releases Report,“Megaprojects: Changing the Conversation”
FMI Corporation, a leading provider of consulting and investment banking services to the Built Environment, is pleased to announce the release of its latest report, “Megaprojects: Changing the Conversation.” In this article, we present FMI’s latest market forecast on megaprojects, share insights from industry leaders on five key ingredients that drive successful megaprojects, and offer…
2020 Carolinas AGC Leadership Nominated
The CAGC Nominations Committee, led by Committee Chair Casey Schwager, has completed its work and announces the following recommended slate to the membership for our Board of Directors in 2020: Chair: Casey Schwager, Sloan Construction Company, Inc.Chair Elect: Charlie Wilson, C.T. Wilson Construction Co., Inc.Treasurer: Mark Johnnie, Balfour Beatty Infrastructure, Inc.Vice Chair: Dean Wilson, Hood Construction Company, Inc.Past Chair: Ron…
Credentials: Why Do They Matter?
Credentials matter — it is an indisputable fact that credentials are important and are a vital part of our educational system. With 70% of jobs needing less than a bachelor’s or graduate degree, credentials are a key element of the workforce development system in the U.S. While a common misconception is that the only path…
Nonresidential Construction Employment Expands in August, Says ABC
The construction industry added 14,000 net new jobs in August, 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 177,000 jobs, or 2.4%. Nonresidential construction employment increased by 11,600 net jobs in August and is up…
Eighty Percent of Construction Firms are Having Difficulty Finding Workers
Firms Are Boosting Pay and Benefits, Adding New Training Programs and Adopting New Technologies to Cope, but Labor Shortages Threaten Broader Economic Growth as Officials Outline Federal Measures to Help Eighty percent of construction firms report they are having a hard time filling hourly craft positions that represent the bulk of the construction workforce, according…
Construction Spending Edges Higher in July
Construction spending inched up less than 0.1 percent in July from June but slipped from year-ago levels, as a weak single-family homebuilding market and declines in some private nonresidential segments masked gains in public and multifamily construction, according to an analysis today by the Associated General Contractors of America of new federal spending data. Association…
Construction Contractors Lose Confidence in June, Says ABC
U.S. construction industry leaders are somewhat less confident about near-term prospects for nonresidential construction but remain reasonably upbeat, according to the June 2019 Construction Confidence Index released today by Associated Builders and Contractors. While contractors are less optimistic regarding sales, profits and staffing levels on a monthly basis, all three principal components measured by the…
July Construction Starts Increase 2 Percent
At a seasonally adjusted annual rate of $849.6 billion, new construction starts in July advanced 2% from the previous month, according to Dodge Data & Analytics. This marked the third consecutive monthly increase for total construction starts, following gains of 10% in May and 9% in June. By major sector, nonbuilding construction led the way…
What is a Fixed Price Contract in Construction?
Establishing a pricing method is an essential part of the pre-construction stage of a project. Generally, contractors choose to use either a fixed-price contract or a contract with dynamic pricing. A fixed-price contract in construction is a pricing method which sets a total established price upfront for all construction-related activities undertaken during the lifetime of the project….
