WASHINGTON, April 29—The U.S. economy contracted at an annualized 4.8% rate during the first quarter of 2020 as a result of the ongoing global pandemic, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Economic Analysis. The decline in GDP is largely a reflection of the final three weeks of March, which devastated the economy.

WASHINGTON, April 24—Associated Builders and Contractors Vice President of Legislative and Political Affairs Kristen Swearingen today issued the following statement on the signing of the Paycheck Protection Program and Health Care Enhancement Act, which provides additional funding for the Paycheck Protection Program:

WASHINGTON, April 23—Confidence among U.S. construction industry leaders plummeted in response to the economic fallout associated with COVID-19, according to the Associated Builders and Contractors Construction Confidence Index released today. Readings for sales, profit margins and staffing levels expectations fell below the threshold of 50 for the first time in the history of the series, signaling expected contraction along all three dimensions. CCI is based on a survey of ABC members, which was conducted March 20-31. 

WASHINGTON, April 21—Associated Builders and Contractors reported today that its Construction Backlog Indicator fell to 8.2 months in February, a 7.7% decrease from January’s reading. Backlog for firms working in the infrastructure segment rose by 1.3 months in February while backlog for commercial and institutional and heavy industrial firms declined by 0.6 months and 0.7 months, respectively.

WASHINGTON, April 15—Associated Builders and Contractors President and Chief Executive Officer Michael D. Bellaman today issued the following statement regarding the Great American Economic Revival Industry Groups:

WASHINGTON, April 13—Associated Builders and Contractors Vice President of Health, Safety, Environment and Workforce Development Greg Sizemore today issued the following statement on the release of Occupational Safety and Health Administration’s April 10 guidance on recording cases of COVID-19:

WASHINGTON, April 9—Construction input prices fell 1% in March from the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data released today. The aggregate price of inputs to construction is down 1.9% compared to the same time last year. Nonresidential construction input prices fell 1.1% for the month and 2% during the past year.

WASHINGTON, April 8—Estimated February not seasonally adjusted construction unemployment rates fell nationally and in 37 states, rose in 12 states and were unchanged in one state (Texas) on a year-over-year basis, according to an analysis of U.S. Bureau of Labor Statistics data released today by Associated Builders and Contractors.

WASHINGTON, April 6—Associated Builders and Contractors today announced the 49 winners of the 2019 National Safety Excellence Awards, which will be presented at the 30th annual Excellence in Construction® Awards during ABC Convention 2020 in Nashville, Tennessee, on Aug. 18.

WASHINGTON, April 6—Associated Builders and Contractors today named Tri-City Electrical Contractors Inc., headquartered in Altamonte Springs, Florida, as its 2020 Contractor of the Year, an award that recognizes companies for corporate integrity, commitment to safety, professional development and expert craftsmanship. The award will be presented at the 30th annual Excellence in Construction® Awards gala during ABC Convention 2020 in Nashville, Tennessee, on Aug. 18.

WASHINGTON, April 6—Associated Builders and Contractors has named the winners of the 2019 National Diversity Excellence Awards, an annual recognition of ABC members that display exemplary diversity leadership in their workforce, supply chain and community with best-in-class recruitment policies, retention practices and education and mentoring programs. The winners will be honored at the 30th annual Excellence in Construction® Awards at ABC Convention 2020 in Nashville, Tennessee, on Aug. 18. 

WASHINGTON, April 6—Associated Builders and Contractors today announced 92 Excellence in Construction® winning projects collectively worth nearly $2.9 billion, which will be presented during ABC Convention 2020 in Nashville, Tennessee, on Aug. 18. The EIC awards program is the industry’s leading competition that honors both general and specialty contractors for innovative and high-quality merit shop construction projects.

WASHINGTON, April 3—Construction industry employment declined by 29,000 in March, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics. Nonresidential construction employment declined by 24,600 in March.

WASHINGTON, April 1—National nonresidential construction spending fell 1.8% in February, but is up 2.5% compared to the same time last year, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled $795.1 billion for the month.