Nonresidential Construction Spending Continues to Increase in February, Says ABC
National nonresidential construction spending increased 0.4% in February, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $982.2 billion for the month. Spending declined on a monthly basis in 9 of the 16 nonresidential subcategories. Private nonresidential spending…
Construction Employment Increases In 283 Of 358 Metro Areas From February 2022 To 2023 As Job Openings Show Need For Even More Workers
Construction employment increased in 283, or 79 percent, of 358 metro areas between February 2022 and February 2023, according to an analysis by the Associated General Contractors of America of new government employment data. Meanwhile, new government data shows there were more job openings in the industry than the number of people hired last month. Association officials said…
ABC: Construction Job Openings Jump By 129,000 in February; Sharp Contrast to January’s Steep Decline
The construction industry supported 412,000 job openings in February, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry job openings increased by 129,000 last…
Southeast Mechanical Acquires Carolina Comfort
Southeast Mechanical (“SEM”), headquartered in Winston-Salem, North Carolina, today announced the acquisition of Wilkesboro, North Carolina-based Carolina Comfort Heating & Air Conditioning (“Carolina Comfort”). This partnership bolsters SEM’s presence in the North Carolina market. “We’re very excited to welcome Carolina Comfort to the SEM Family,” stated Hugh Elks, President of SEM. Elks added, “This is complementary to our other divisions and further…
Construction Input Costs Rise 0.4 Percent In February, Outpacing Bid-Price Increase Of 0.1 Percent, As Wide Variety Of Materials Posts Price Gains
Large Increases Hit Price Indexes for Flat Glass, Metals, Cement, and Paving Materials; Association Officials Urge Federal Leaders to Ease Proposed Rules that Will Make Products Even More Expensive The price of materials and services used in nonresidential construction increased by 0.4 percent from January to February, outpacing the 0.1 percent increase in contractors’ bid…
ABC’s Construction Backlog Indicator and Contractor Confidence Index Rise in February
Associated Builders and Contractors reported today that its Construction Backlog Indicator increased to 9.2 months in February, according to an ABC member survey conducted Feb. 20 to March 6. The reading is 1.2 months higher than in February 2022. View the historic Construction Backlog Indicator and Construction Confidence Index data series. Backlog rebounded in February and…
Construction Adds 24,000 Jobs in February
The construction industry added 24,000 jobs on net in February, 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 risen by 249,000 jobs, an increase of 3.2%. Nonresidential construction employment increased by 11,600 positions, with growth registered in…
CONEXPO-CONAGG 2023 Set for Biggest Show Ever
CONEXPO-CON/AGG, already recognized as the largest trade show in North America, has officially sold all available exhibit space, guaranteeing the 2023 edition of the show will be the biggest in history. “The addition of the new West Hall and Diamond Lot at the Las Vegas Convention Center gave us, and our exhibitors, a number of…
ABC: Construction Materials Prices Rise 1% in January; Up 5% From a Year Ago
Construction input prices rose 1.3% in January, 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 increased 1.1% for the month. Overall construction input prices are 4.9% higher than a year ago, which is the smallest annual increase since…
ABC’s Construction Backlog Indicator Down to Start 2023; Contractor Confidence Rises
Associated Builders and Contractors reports today that its Construction Backlog Indicator declined 0.2 months to 9.0 in January, according to an ABC member survey conducted Jan. 20 to Feb. 3. The reading is 1.0 month higher than in January 2022. View the historical Construction Backlog Indicator and Construction Confidence Index data series. Despite the decline in…
