WASHINGTON, July 30—The U.S. economy contracted at an annualized rate of 32.9% during the second quarter of 2020, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Economic Analysis. Nonresidential and residential fixed investment contracted by 27.0 and 38.7%, respectively, while investment in nonresidential fixed structures contracted by 34.9%.

WASHINGTON, July 15—Associated Builders and Contractors Vice President of Legislative & Political Affairs Kristen Swearingen issued the following statement on the final National Environmental Policy Act rule, which was released today:

WASHINGTON, July 14—Associated Builders and Contractors reported today that its Construction Backlog Indicator rose to 8.1 months in June, an increase of 0.2 months from May’s reading. CBI is down approximately 8% from its June 2019 level. Every region except the Middle States experienced an increase in backlog in June compared to May, according to an ABC member survey conducted from June 20-July 1.

WASHINGTON, July 10—Construction input prices rose 2.2% in June, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data released today. Nonresidential construction input prices rose by 2.3% for the month.

WASHINGTON, July 6—Associated Builders and Contractors today announced the cancellation of ABC Convention 2020, which was scheduled for Aug. 17-19 in Nashville, Tennessee. The event, which includes the National Craft Championships, Construction Management Competition and National Excellence in Construction® Awards, was previously postponed from March due to the coronavirus pandemic. 

WASHINGTON, July 2—The construction industry added 158,000 jobs on net in June, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics. During the last two months, the industry has added 591,000 jobs, recovering 56% of the industrywide jobs lost since the start of the pandemic.

WASHINGTON, July 1—Associated Builders and Contractors Vice President of Legislative & Political Affairs Kristen Swearingen today issued the following statement on the U.S. House of Representatives’ passage of H.R. 2, the Moving Forward Act, by a vote of 233 to 188:

WASHINGTON, July 1—National nonresidential construction spending declined 0.9% in May, 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 $812.5 billion for the month. Private nonresidential spending declined 2.4% in May and public nonresidential construction spending increased 1.2%.