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ABC's Construction Economic Update covers the latest commercial and industrial construction economic news. Delivered electronically, it provides an analysis of the monthly economic indices released by the federal government, including construction spending, employment, the producer price index and the quarterly gross domestic product.  

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Posts Tagged 'Construction Economics'

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Construction Materials Prices Down Again in November

Construction input prices fell again in November, down 0.8 percent for the month, according to the Dec. 12 producer price index (PPI) release by the Department of Labor. Prices have fallen in five of the past six months but still are 0.6 percent higher on a year-over-year basis. Inputs to nonresidential construction fell 1.1 percent and are unchanged from the same time last year.

Nonresidential Construction Adds Nearly 5,000 Jobs in November

The U.S. construction industry added 20,000 jobs in November, with nonresidential construction contributing 4,900 of them, according to the Bureau of Labor Statistics preliminary estimate released Dec. 5. October’s overall construction estimate was revised downward from 12,000 to 7,000 net new jobs and nonresidential construction lost 2,100 jobs in October, after revisions.

Nonresidential Construction Spending Rebounds in October

Nonresidential construction spending bounced back in October, expanding 1 percent on a monthly basis and 4.3 percent year over year, according to a Dec. 2 release from the U.S. Census Bureau.  Spending for the month totaled $611.8 billion on a seasonally adjusted, annualized basis. Additionally, the government revised the September spending figure up to $605.8 billion from $596.1 billion.

Construction Materials Prices Dip in October

October marked the fifth consecutive month during which construction input prices have failed to rise. Inputs to construction industries were down 0.9 percent for the month but expanded 1 percent on a year-over-year basis, according to a Nov. 17 producer price index (PPI) release from the U.S. Department of Labor. Inputs to nonresidential construction fell 1.1 percent for the month but are 0.5 percent higher than at the same time last year.

Nonresidential Construction Employment Slips in October

The U.S. construction industry added 12,000 jobs in October, according to the Bureau of Labor Statistics (BLS) preliminary estimate released Nov. 7. September’s estimate was revised upward from 16,000 to 19,000 net new jobs. Nonresidential construction slipped in October, losing 1,900 jobs on a monthly basis. 

Nonresidential Construction Spending Slips for Second Consecutive Month

Nonresidential construction spending slipped 1 percent in September but has still managed to expand 4.2 percent on a year-over-year basis, according to the Nov. 1 release from the U.S. Census Bureau. Spending for the month totaled $596.1 billion on a seasonally adjusted, annualized basis while the government slightly upwardly revised the August spending figure from $603.7 billion to $601.9 billion.

Construction Materials Prices Inch Down in September

Construction materials prices inched down 0.1 in September, but rose 1.6 percent compared to the same time last year, according to the U.S. Department of Labor’s Oct. 15 Producer Price Index. Prices for inputs to construction industries have remained unchanged from June to August—the longest such period since the price index for construction inputs began in 1986. Inputs to nonresidential construction fell 0.2 percent for the month, but were 1 percent higher than in September 2013. 

Nonresidential Construction Employment Remains Modest in September

The U.S. construction industry added 16,000 jobs in September, according to the Oct. 3 Bureau of Labor Statistics preliminary estimate released. The August estimate was revised downward from 20,000 to 16,000 net new jobs. Nonresidential construction added 3,200 jobs in September, accounting for only 20 percent of the total gain in construction employment.

Nonresidential Construction Employment Retains Momentum in August

The U.S. construction industry added 20,000 jobs in August, according to the Bureau of Labor Statistics report released Sept. 5 and July’s estimate was revised upward from 22,000 to 31,000 net new jobs. Nonresidential construction added 5,500 jobs in August, which could be considered a bit soft, but the segment added 15,200 jobs in July (revised upward from 6,600). 

Nonresidential Construction Spending Rebounds in July

Nonresidential construction spending expanded strongly in July, growing 2.5 percent on a monthly basis and rising a robust 8.6 percent on a year-over-year basis according to a Sept. 2 release from the U.S. Census Bureau. Spending for the month totaled $617.8 billion on a seasonally adjusted, annualized basis. The government also revised upward a somewhat disappointing June nonresidential construction spending estimate from $589 billion to $603 billion and the estimate for May from $606 billion to $611 billion.