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From the category archives: Economics

Contractors Lose Confidence in Q3 but Remain Upbeat

While construction industry leaders remained confident in the third quarter of 2018, optimism slipped relative to the second quarter, according to the latest Construction Confidence Index released by ABC. Approximately three in four construction firms expect that sales will continue to rise over the next six months and closer to one in 10 expect sales to decline over the next two quarters. Read the rest of entry »

ABC’s Construction Backlog Indicator Sinks Below Record Highs in Q3 2018

ABC reports that its Construction Backlog Indicator contracted to 9.04 months during the third quarter of 2018, down 8.4 percent from the second quarter and 4.3 percent lower than the same time last year. “Construction backlog reached its highest level ever during the second quarter,” said ABC Chief Economist Anirban Basu. Read the rest of entry »

Price of Construction Materials Declines in November; ABC Predicts Moderate Increases in Early 2019

Construction materials prices fell 1.8 percent in November, according to ABC's analysis of U.S. Bureau of Labor Statistics data. Despite the monthly decline, materials prices are still 5.3 percent higher than they were on a year-over-year basis. Read the rest of entry »

Nonresidential Construction Employment Slows Down in November

Construction employment expanded by 5,000 net new jobs in November, according to an analysis of U.S. Bureau of Labor Statistics data conducted by ABC. During the past 12 months, the industry has added 282,000 net new construction jobs, which translates into a 4 percent increase in total industry-wide employment. Read the rest of entry »

ABC Predicts Construction Sector Will Remain Strong in 2019

ABC Chief Economist Anirban Basu forecasts another strong year for construction sector performance, yet warns about inflationary pressures, according to a 2019 economic outlook published in Construction Executive magazine. Read the rest of entry »

Nonresidential Spending Rises Modestly in October

National nonresidential spending increased 0.1 percent in October, according to an ABC analysis of U.S. Census Bureau data. Total nonresidential spending for the month stood at $763.8 billion on a seasonally adjusted annualized rate, which represents a 7.3 percent increase over the same time last year. Read the rest of entry »

October Construction Unemployment Rates Down in 45 States Year Over Year

Estimated October construction unemployment rates fell nationally and in 45 states on a year-over-year basis, according to ABC’s analysis of U.S. Bureau of Labor Statistics data. While the October 2018 not seasonally adjusted national construction unemployment rate fell 0.9 percent from a year ago to 3.6 percent, the construction industry employed 318,000 more workers nationally compared to October 2017, according to BLS statistics. Read the rest of entry »

Construction Materials Prices Continue to Rise in October

Construction prices rose 0.5 percent in October and are 7.9 percent high than at the same time a year ago, according to an analysis of Bureau of Labor Statistics Producer Price Index data conducted by ABC. Prices for nonresidential construction inputs also increased 0.5 percent on a month-over-month basis and are up by more than 8 percent on a year-over-year basis.  Read the rest of entry »

Construction Employment Picks Up in October

The U.S. construction industry added 30,000 net new jobs in October, according to an analysis by ABC of data from the U.S. Bureau of Labor Statistics. The industry has added 330,000 net new construction jobs over the past 12 months, a 4.7 percent increase. Read the rest of entry »

Nonresidential Spending Retains Momentum in September, Up 8.9 Percent Year Over Year

National nonresidential construction spending fell 0.3 percent in September but remains historically elevated, according to an ABC analysis of U.S. Census Bureau data. Total nonresidential spending stood at $767.1 billion on a seasonally adjusted, annualized rate in September, an increase of 8.9 percent on a year-ago basis. Read the rest of entry »
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