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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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Nonresidential Construction Spending Slips in November; Ominous Indications in Census Bureau Report

WASHINGTON, D.C., Jan. 4- Nonresidential construction spending dipped by 0.8 percent in November, totaling $688.1 billion on a seasonally adjusted, annualized basis, according to analysis of  U.S. Census Bureau data released today by Associated Builders and Contractors (ABC). This represents the worst monthly performance since April 2015. Moreover, October’s spending estimate was revised downward from $701.8 billion to $693.7 billion and September’s estimate was revised downward from $695 billion to $691.5 billion.

Construction Material Prices Plunge in November

WASHINGTON, D.C., Dec. 11- Construction input prices fell for the fifth consecutive month in November according to an analysis of the Bureau of Labor Statistics’ Producer Price Index released today by Associated Builders and Contractors (ABC). Input prices fell 0.4 percent on a monthly basis and are down 4.2 percent on a year-over-year basis. Nonresidential construction prices behaved similarly, falling 0.5 percent month-over-month and 4.6 percent year-over-year. Only two of the 11 key input prices have risen since November 2014.

Nonresidential Spending Retains Momentum in October

WASHINGTON, D.C., Dec. 1- Nonresidential construction spending expanded in October for the third consecutive month (September’s estimate was revised higher than August’s) according to analysis of   U.S. Census Bureau data released by Associated Builders and Contractors (ABC) today.  Nonresidential construction spending totaled $701.8 billion in October on a seasonally adjusted annualized rate, a 1 percent increase on a monthly basis and an 11 percent increase on a yearly basis.

Construction Material Prices Fall Further in October

WASHINGTON, D.C., Nov. 13- The Producer Price Index for inputs to construction industries declined for a fourth consecutive month in October, according to an analysis of the Bureau of Labor Statistics data released today by Associated Builders and Contractors (ABC). The index stands at its lowest level since the first quarter of 2011 as prices for construction inputs declined 0.2 percent on a monthly basis and 4.6 percent on a year-ago basis. Nonresidential construction input prices exhibit a similar pattern, falling 0.3 percent since last month and 5.1 percent over the past twelve months. Nine of 11 key input prices are down on a year-over-year basis.

Construction’s Percentage Job Gains Lead All Economic Sectors in October

WASHINGTON, D.C., Nov. 6—The U.S. construction industry added more jobs in October than during the previous four months combined, according to an analysis of Bureau of Labor Statistics data released today by Associated Builders and Contractors (ABC). Construction employment expanded by 31,000 net new jobs last month after adding 12,000 jobs in September (revised upward from 8,000). Nonresidential construction employment increased by 20,100 jobs in October after adding 11,100 jobs in September (revised upward from 6,800).

September’s Nonresidential Spending Slip No Cause for Concern, ABC Says

WASHINGTON, D.C., Nov. 2—Nonresidential construction spending fell in September for the first time in eight months, the U.S. Census Bureau reported today, but the monthly drop in spending is not a cause for concern according to analysis by Associated Builders and Contractors (ABC). Nonresidential construction spending fell by 0.1 percent from August, totaling $692.8 billion on a seasonally adjusted annualized basis.

Construction Material Prices Plunge in September

Prices for inputs to construction industries plunged 1.6 percent in September after shedding 0.9 percent in August, the Bureau of Labor Statistics reported today. Year-over-year prices were down 5.3 percent for the month, the largest yearly decrease since October of 2009. Inputs to nonresidential construction prices also declined, losing 1.6 percent for the month and 6 percent for the year. Only three of the 11 key input prices expanded on a monthly basis in September, while six experienced double-digit year-over-year declines, according to analysis by Associated Builders and Contractors.

Construction Employment Rises Despite Lackluster National Jobs Report

U.S. construction industry employment edged higher in September despite a disappointing jobs report for the overall U.S. economy. The number of construction jobs expanded by 8,000 on a net basis in September, with nonresidential builders and specialty trade contractors collectively creating 6,800 of those net new jobs. The number of jobs in the heavy and civil engineering category declined by 2,200, however.

Nonresidential Construction Spending Expands for Seventh Consecutive Month

August marked the seventh consecutive month nonresidential construction spending expanded according to an Oct. 1 release supplied by the U.S. Census Bureau. Nonresidential spending totaled $696.3 billion on a seasonally adjusted, annualized basis in August, a 0.3 percent increase from the previous month and a 12.3 percent increase from the same time last year. The Census Bureau downwardly revised July’s estimate from $696.1 billion to $694.1 billion.

Construction Materials Dip for Second Consecutive Month

Prices for inputs to the construction industry fell 0.9 percent in August after shedding 0.1 percent in July. Inputs to nonresidential construction behaved similarly, losing 0.8 percent for the month and 4.7 percent for the year.