Leading construction economist assesses slowing private, nonresidential work

Sources: Associated Builders & Contractors, Washington, D.C.; CP staff

Nonresidential construction fell for a second consecutive month. An ABC analysis of U.S. Census Bureau data shows seasonally adjusted, annualized spending of $687 billion in August, 1.1 percent and 1.3 percent lower than prior month and August 2015 levels, respectively. Four of the five largest nonresidential subsectors—power, highway and street, commercial and manufacturing—combined to fall 2.2 percent on a monthly basis in August 2016.

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Nonresidential construction confidence index soars

Source: Associated Builders and Contractors, Washington

The ABC Construction Confidence Index (CCI), which reflects nonresidential construction industry prospects using three measured categories—revenues, profit margins and hiring—increased across all indices during the first six months of 2014.

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Economists bullish on commercial and industrial work

DBIA officials cite the inherent value design-build methods bring to projects across the construction sectors, including transportation. The Institute honored the Yadkin River Bridge—a 2,900-ft., twin structure along the Interstate 85, Charlotte–Greensboro, N.C., corridor—with a 2014 National Award of Merit. Flatiron Construction Corp. led the design-build team credited with delivering the North Carolina Department of Transportation project under its $136 million budget.

“A combination of low interest rates; wealth effects stemming from a booming stock market and rising home prices; surging energy production; and expanding industrial output has helped position the U.S. economy for more rapid growth during the next several quarters,” says Associated Builders and Contractors Chief Economist Anirban Basu. “This will lead to more robust recovery in the U.S. nonresidential construction industry, which has also been aided by stable materials prices and improving commercial real estate fundamentals.”

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AGC economist cautious as construction employment hits six-year high

Construction employers added 6,000 workers in May as the industry’s unemployment rate dropped to 8.6 percent, its lowest mid-spring level in six years, according to an Associated General Contractors of America analysis of federal government data.

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Spot labor shortages surface as construction unemployment figures slide

Sources: Associated General Contractors of America, Washington, D.C.; CP staff

Sustaining momentum from April and May, construction employers added 6,000 workers to payrolls in June as the industry’s unemployment rate dropped to 8.2 percent, its lowest level for the month in six years, according to an AGC analysis of new government data.

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