Construction Output Drops Significantly
Source: Associated Builders and Contractors The U.S. economy contracted at an annualized rate of 32.9 percent during the second quarter of 2020, according to an Associated Builders and Contractors analysis of data by the U.S. Bureau of Economic Analysis. Nonresidential and residential fixed investment contracted by 27.0 and 38.7 percent, respectively, while investment in nonresidential fixed structures contracted by […]
April Nonresidential Construction Spending Drops
Source: Associated Builders and Contractors National nonresidential construction spending decreased by 1.8 percent in April, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled $801.8B for the month, a 0.9 percent increase from April 2019. Of the 16 subcategories, 13 were down on a […]
Nonres. Construction Employment Sees Record Drop
Source: Associated Builders and Contractors The construction industry lost 975,000 jobs on net in April, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. This was the largest recorded decrease in construction jobs since the government began tracking employment in 1939, despite construction remaining an essential industry in much of the nation […]
ABC: Nonresidential Construction Spending Dips
Source: Associated Builders and Contractors National nonresidential construction spending fell 0.1 percent in March and is up 2.0 percent compared to the same time last year, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled $802.6B for the month. Among 16 nonresidential subcategories, 12 […]
Construction Employment Dropped in March
Source: Associated Builders and Contractors Construction industry employment declined by 29,000 in March, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. Nonresidential construction employment declined by 24,600 in March. All three nonresidential segments registered job losses, with the largest decrease experienced in nonresidential building (-10,700) followed closely by heavy and civil […]
Construction Contractors Confident to Start 2020
Source: Associated Builders and Contractors Confidence among U.S. construction industry leaders generally improved in January, consistent with the burgeoning momentum of the U.S. economy during the early weeks of 2020, according to the Associated Builders and Contractors Construction Confidence Index. While the reading for sales expectations edged lower for the month, confidence pertaining to sales, profit margins and staffing […]
ABC: Nonresidential Const. Spending Up in Jan.
Source: Associated Builders and Contractors National nonresidential construction spending increased by 1.6 percent in January and is up 5.1 percent on a year-ago basis, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled a record $806.9B in January. Private nonresidential […]
Jan. Nonresidential Construction Employment Rises
Source: Associated Builders and Contractors The construction industry added 44,000 net new jobs in January, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 142,000 jobs, an increase of 1.9 percent. Nonresidential construction employment increased by 23,800 […]
ABC’s Const. Backlog Indicator Dips in Nov.
Source: Associated Builders and Contractors Associated Builders and Contractors reported its Construction Backlog Indicator fell slightly to 8.8 months in November, a 1.5 percent decline from October’s reading. “Nonresidential construction backlog has generally been trending lower since the spring of 2019, but as a practical matter, this represents little cause for concern,” said ABC Chief […]
ABC’s 2020 Construction Economic Forecast
Source: Associated Builders and Contractors Associated Builders and Contractors Chief Economist Anirban Basu forecasts continued momentum for the construction sector next year but advised an overall “wait-and-see” approach based on leading and lagging indicators and economic uncertainties, according to a 2020 economic outlook published in Construction Executive magazine. Although ABC’s Construction Backlog Indicator—a leading indicator […]