Posted on Wednesday, February 4, 2015 2:06 PM By Donna Puglisi
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.
Posted on Tuesday, December 9, 2014 3:19 PM By Donna Puglisi
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.
Posted on Wednesday, August 20, 2014 11:57 AM By Donna Puglisi
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.
Posted on Wednesday, August 6, 2014 9:30 AM By Donna Puglisi
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.
Posted on Wednesday, May 14, 2014 10:52 AM By Donna Puglisi
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.
Posted on Wednesday, April 30, 2014 2:44 PM By Donna Puglisi
Nonresidential fixed investment decreased 2.1 percent and residential fixed investment fell 5.7 percent during the first quarter, according to an April 30 release by the Bureau of Economic Analysis. Overall, real gross domestic product (GDP) expanded just 0.1 percent (seasonally adjusted annual rate) during the first quarter of 2014 following a 2.6 percent increase in the fourth quarter of last year.
Posted on Wednesday, October 9, 2013 9:54 AM By Donna Puglisi
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.
Posted on Wednesday, June 19, 2013 1:07 PM By Kinsey Cooper
Economists from ABC, American Institute of Architects and National Association of Home Builders (NAHB) gave their perspectives June 17 about where the construction economy is headed during an online news conference. As a whole, things are improving, but recovery will continue to be slow unless more jobs are created.
Posted on Wednesday, March 13, 2013 2:05 PM By Kinsey Cooper
According to the March 9 employment report by the Department of Labor, the construction industry added 48,000 jobs in February—the largest monthly increase since March 2007 – with growth reported in every significant construction segment and with specialty trade contractors responsible for approximately two out of every three jobs.
Posted on Wednesday, December 5, 2012 8:33 AM By Kinsey Cooper
In a 2013 construction forecast released Dec. 4, ABC Chief Economist Anirban Basu predicted nonresidential construction spending to expand 5.2 percent next year, with much of the expansion coming from privately financed projects.
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