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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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For media inquiries, contact Jeff Leieritz at leieritz@abc.org.

GDP Report Shows Increasing Positivity for Nonresidential Construction

Nonresidential fixed investment grew 5.5 percent in the third quarter after expanding 9.7 percent in the second quarter, according to the Bureau of Economic Analysis’ Oct. 30 gross domestic product (GDP) report. It has now expanded by greater than 5 percent in four of the past five quarters. In addition, investment in equipment increased 7.2 percent, while investment in nonresidential structures increased 3.8 percent. 
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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. 
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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. Read the rest of entry »

Nonresidential Construction Spending Falters in August

Nonresidential construction spending slipped in August, according to an Oct. 1 release from the U.S. Census Bureau. Nonresidential construction spending shrank 1.2 percent on a monthly basis in August, but has still managed to expand 6 percent on a year-over-year basis. Spending for the month totaled $603.7 billion on a seasonally adjusted, annualized basis. The government also revised the July spending figure down from $617.8 billion to $611.3 billion.
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No Change for Construction Materials Prices in August

Construction materials prices were unchanged in August but are 1.7 percent higher than this time last year, according to a Sept. 16 producer price index (PPI) release by the Department of Labor. Inputs to nonresidential construction, which also remained unchanged in August, are 1 percent higher than in August of 2013. 
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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). 
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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.
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Construction Materials Prices Flat in July

Overall, construction materials prices inched higher in July and are up 2 percent year over year, according to the Aug. 15 producer price index (PPI) release by the Department of Labor. Nonresidential construction materials prices were flat for the month and are just 1.4 percent higher than at the same time one year ago. 
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Nonresidential Construction Spending Growth Falters in June

Nonresidential construction spending fell in June after posting significant growth during the prior two months, according to the Aug. 1 release from the U.S. Census Bureau. Nonresidential construction spending fell 2.8 percent on a monthly basis in June, but has risen 4.6 percent on a year-over-year basis. Spending for the month totaled $588.8 billion on a seasonally adjusted, annualized basis, while the government revised the estimate for nonresidential construction spending in May from $596.2 billion to $605.6 billion.
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Nonresidential Construction Employment Regains Momentum in July

The U.S. construction industry added 22,000 jobs in July, according to the Bureau of Labor Statistics’ Aug. 1 preliminary estimate. June’s report was also upwardly revised to show a gain of 10,000 jobs in the industry. Nonresidential construction added 6,600 jobs in July, with heavy and civil engineering adding 2,500 of those jobs. This represents a significant improvement from June when the nonresidential construction industry added just 100 jobs. 
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