U.S. construction spending increased overall in December, though spending was down monthly in nearly a dozen nonresidential subcategories, according to the U.S. Census Bureau and a data analysis from Associated Builders and Contractors. Construction spending during December 2021 was estimated at a seasonally adjusted annual rate of $1,639.9 billion, 0.2% above the revised November estimate […]
Category: Associated Builders and Contractors
ABC: Decline in Structure Investments Continues
An Associated Builders and Contractors analysis of data released by the Bureau of Economic Analysis shows investment in nonresidential structures decreased at an annual rate of 11.4% in the fourth quarter of 2021 has now contracted in eight of the past nine quarters. The continued slowdown juxtaposed BEA’s announcement stating the U.S. economy grew at […]
Construction Input Prices Jump 0.6% in December
Construction input prices in December rose 0.6%, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. ABC said nonresidential construction input prices also rose 0.6% in December compared with the prior month. Input prices for all three energy subcategories decreased for the month, with crude petroleum […]
Nonresidential Construction Employment Rose in December
The U.S. construction industry added 22,000 net jobs in December, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics. In addition to the monthly increase, the industry overall has recovered slightly more than one million — or 92.1% — of the jobs lost during earlier […]
Nonresidential Construction Employment Rises
Nonresidential construction employment rose last month, as the industry added 31,000 jobs on net, according to an Associated Builders and Contractors analysis of data released Friday by the U.S. Bureau of Labor Statistics. The industry has recovered approximately 90% of the jobs lost during earlier stages of the COVID-19 pandemic. Nonresidential construction employment in November […]
Oct. Construction Spending Up
Construction spending last month was estimated at a seasonally adjusted annual rate of $1,598 billion, 0.2% above the revised September estimate of nearly $1,595 billion, according to a report from the U.S. Census Bureau. The recent October number is 8.6% higher than the October 2020 estimate of almost $1,472 billion. During the first 10 months […]
ABC Names Chair and Exec Committee
The Associated Builders and Contractors Board of Directors selected its 2022 national chair and executive committee. During a recent meeting in Aventura, Florida, board members elected Stephanie Schmidt, president of Poole Anderson Construction in State College, Pennsylvania, as 2022 national chair of the board of directors. “As the fourth woman to serve the association in […]
ABC: 78% of Contractors Using New Tech
Roughly 78% of Associated Builders and Contractors members have implemented new technology in the past two years, with software platforms for project management and accounting as the prime focus of implementation teams, according to ABC’s first-ever construction technology report. ABC released the report Thursday as part of its mission to study innovative technology and tools […]
Building Material Prices Rise
Building material prices rose last month, as construction input prices increased 1.5% in October, according to an Associated Builders and Contractors analysis of the Bureau of Labor Statistics’ Producer Price Index data released earlier this week. Nonresidential construction input prices increased 1.4% in October. Construction input prices are 21.1% higher than in October of last […]
