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From the category archives: Construction Economic Update
Construction Economic Update
Wednesday, February 17, 2021 9:35 AM
WASHINGTON, Feb. 17—Construction input prices increased 2.5% in January 2021 compared to the previous month, 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 rose 2.1% for the month.
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Tuesday, February 9, 2021 9:58 AM
WASHINGTON, Feb.9—Associated Builders and Contractors reported today that its Construction Backlog Indicator rose to 7.5 months in January 2021, an increase of 0.2 months from its December 2020 reading, according to an ABC member survey conducted from Jan. 20 to Feb. 2. Despite the monthly uptick, backlog is 0.9 months lower than in January 2020.
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Friday, February 5, 2021 10:43 AM
WASHINGTON, Feb. 5—The construction industry lost 3,000 jobs on net in January 2021, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics. During the last nine months, the industry has added 857,000 jobs, recovering 77% of the jobs lost during earlier pandemic stages.
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Thursday, February 4, 2021 9:44 AM
WASHINGTON, Feb. 4—As the nation struggles with the economic effects from the COVID-19 pandemic, construction employment continues to perform better than many other occupational groups, according to a state-by-state analysis of U.S. Bureau of Labor Statistics data released today by Associated Builders and Contractors. In December 2020, on a year-over-year basis, not seasonally adjusted construction unemployment rates rose nationally and in 48 states, and national NSA construction employment was down 125,000 from December 2019. However, national construction employment was only 3% below its pre-pandemic peak in February 2020 on a seasonally adjusted basis.
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Thursday, January 28, 2021 9:12 AM
WASHINGTON, Jan. 28—The U.S. economy expanded at an annualized 4.0% rate in the fourth quarter of 2020 as the nation’s recovery from last spring’s economic devastation continued. Nonresidential investment in structures increased at a 3.0% annualized rate in the fourth quarter.
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Monday, January 4, 2021 11:49 AM
National nonresidential construction spending fell 0.6% in November 2020, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled $792.5 billion for the month.
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Tuesday, December 15, 2020 1:13 PM
Associated Builders and Contractors' Chief Economist Anirban Basu forecasts a recession threat for the construction sector next year, but has illuminated some potential economic bright spots, such as e-commerce and Class B office space, according to a 2021 economic outlook published in Construction Executive magazine.
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Friday, December 11, 2020 10:07 AM
WASHINGTON, Dec. 11—Construction input prices fell 0.5% in November compared to the previous month, 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 fell 0.4% for the month.
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Tuesday, December 8, 2020 12:00 PM
WASHINGTON, Dec. 8—Associated Builders and Contractors reported today that its Construction Backlog Indicator declined to 7.2 months in November, a decrease of 0.5 months from October’s reading, according to an ABC member survey conducted from Nov. 20 to Dec. 2. Backlog is 1.7 months lower than in November 2019.
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Friday, December 4, 2020 3:25 PM
WASHINGTON, Dec. 4—The construction industry added 27,000 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. During the last seven months, the industry has added 804,000 jobs, recovering 74% of the losses incurred during earlier stages of the pandemic.
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