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From the category archives: Economics

White House Releases Long-anticipated Tax Proposal

The White House rolled out its tax proposal, which aides have billed as “the biggest individual and business tax cut in American history” on April 26. Treasury Secretary Steve Mnuchin and National Economic Council Chair Gary Cohn laid out President Trump’s principles for reform from behind the podium, and a one-page document was distributed to the press. Read the rest of entry »

Trump Administration Approves Keystone XL Pipeline Permit

On March 24, the U.S. Department of State signed a permit approving the TransCanada Keystone XL pipeline, which would ship crude from Canada's western oil-sands region to refineries on the Gulf Coast. The memorandum invited TransCanada to re-submit its application for a presidential permit for the construction of the 1,600-mile pipeline and requested that the State Department reach a final permitting decision within 60 days. Read the rest of entry »

Share Your Backlog and Help ABC Expand Its Economic Data

ABC’s unique quarterly Construction Backlog Indicator (CBI) gives ABC members and the broader construction community a look at the future economic health of the construction industry by measuring the amount of work companies are contracted to complete in the months and years ahead. CBI is a forward-looking indicator compiled from surveys completed monthly by ABC members indicating the amount of work under contract but yet to be completed in the months and years ahead. All reported data is confidential, if you’re not participating, sign up today.
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Nonresidential Construction Spending and Fixed Investment Rise Moderately to End 2014

Nonresidential construction spending grew 0.4 percent on a monthly basis in Dec. 2014, according to the Feb. 2 release from the U.S. Census Bureau. Spending for the month totaled $627.1 billion on a seasonally adjusted, annualized basis, 5.9 percent higher than Dec. 2013. The government also upwardly revised November’s spending estimate from $617 billion to $624.8 billion and October’s figure from $623 billion to $627.4 billion. “Despite the slight expansion indicated in today’s report, nonresidential construction lost some of its momentum during the final two months of 2014; however, this should represent only a minor dip in the industry’s momentum headed into 2015,” said Anirban Basu.
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Continued Construction Industry Growth Predicted for 2015

In his 2015 economic forecast released Dec. 9, ABC Chief Economist Anirban Basu relayed his forecast for a steady recovery among the U.S. commercial and industrial construction industries in 2015, continuing the momentum built in 2014.
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Construction Backlog is on the Rise

ABC’s Construction Backlog Indicator (CBI) reached an all-time high in the second quarter of 2014, according to a report issued Aug. 19. After falling 2.8 percent in the first quarter, second quarter CBI improved 5.4 percent to reach 8.5 months. In addition, there were gains in every industry segment, in nearly all geographic regions and for firms of almost all sizes. ABC’s chief economist expects that trend to continue. Read the rest of entry »

Economic Outlook for Construction is Optimistic

According to recent economic indicators and the predictions of three industry economists, the construction industry can be optimistic about its future. In particular, ABC Chief Economist Anirban Basu expects nonresidential construction to achieve 7 percent nominal growth in 2014, despite ongoing challenges in the public construction segment. Read the rest of entry »

Construction Materials Prices Increase for Fifth Consecutive Month

Overall construction materials prices increased 0.4 percent in April and are up 1.5 percent year over year, according to the May 14 Producer Price Index released by the U.S. Department of Labor. Nonresidential construction material prices were up 0.5 percent for the month and are 1.4 percent higher than the same time last year. Read the rest of entry »

Tax Season Reminds Construction Industry of High Effective Rates

Many ABC members were greeted with a significant tax increase this tax day, April 15. Construction contractors who survived the recession already paid the highest effective tax rate of any sector, and now they face even higher taxes thanks to rising marginal rates, reinstated limits on deductions, and new surtaxes on wages and income stemming from the health care law. Read the rest of entry »

Study Finds Commercial Construction has $10 Billion Impact On Alabama

An economic study organized by the Associated Builders and Contractors (ABC) Alabama chapter found commercial construction’seconomic impact exceeds $9.6 billion, making it the largest industry in the state. 
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