Construction spending during November 2020 was estimated at a seasonally adjusted annual rate of $1,459.4 billion, 0.9% (±0.8%) above the revised October estimate of $1,446.9 billion. The November figure is 3.8% (±1.3%) above the November 2019 estimate of $1,405.5 billion.
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Construction Spending Up Slightly in October
The U.S. Census Bureau announced that construction spending during October 2020 was estimated at a seasonally adjusted annual rate of $1,438.5 billion, 1.3% (±1.0%) above the revised September estimate of $1,420.4 billion. The October figure is 3.7% (±1.3%) above the October 2019 estimate of $1,386.8 billion.
Read MoreMaterial Shortages, Price Increases
Nov. 24, 2020 – According to Ken Simonson, chief economist for Associated General Contractors of America (AGC), selective materials shortages and price increases continue to affect contractors. AGC has received reports of cement shortages in California and Utah. Participants in the October ABI survey also reported problems. Overall, six in 10 responding firms this month indicated that they have seen some degree of…
Read MoreAssociation Heads Comment on Presidential Election
The National Stone, Sand & Gravel Association’s (NSSGA) President and CEO Michael Johnson issued the following statement on the outcome of the 2020 elections: “NSSGA commends a record number of citizens for exercising their right to vote and congratulates the winners of this historic election. The strength of ROCKPAC and the active engagement of our members in the political process served to…
Read MoreConstruction Spending Ticks Up; Highways Dealt a Setback
The U.S. Census Bureau announced that construction spending during September 2020 was estimated at a seasonally adjusted annual rate of $1,414.0 billion, 0.3% (±1.0%) above the revised August estimate of $1,410.4 billion. The September figure is 1.5% (±1.3%) above the September 2019 estimate of $1,393.3 billion.
Read MoreWhere We Stand
As the industry heads into the eighth month of the COVID-19 crisis, we continue to see a mixed bag of industry and economic indicators. Aggregates producers seem to be holding their own, over and above the fact that the construction market has seen its fair share of fluctuations. Aggregates production did dip 3% compared with that of the second quarter…
Read MoreConstruction Spending Rises in August; Highway Construction Ticks Up
Construction spending during August 2020 was estimated at a seasonally adjusted annual rate of $1,412.8 billion, 1.4% (±1.0%) above the revised July estimate of $1,392.7 billion. The August figure is 2.5% (±1.5%) above the August 2019 estimate of $1,379.0 billion.
Read MoreCoronavirus Has Caused Significant Construction Delays, Cancellations
The coronavirus has harmed the construction industry, prompting project delays and cancellations, layoffs and furloughs, yet it remains difficult for a majority of firms to find craft workers to hire, according to the results of a workforce survey conducted by the Associated General Contractors of America (AGC) and Autodesk. The survey paints a picture of an industry in need of…
Read MoreConstruction Spending Rises; Highways Slide
The U.S. Census Bureau reported that total construction spending during July 2020 was estimated at a seasonally adjusted annual rate of $1,364.6 billion, 0.1% (±1.2%) above the revised June estimate of $1,362.8 billion. The July figure is 0.1% (±1.6%) below the July 2019 estimate of $1,366.0 billion.
Read MoreConstruction Employment Declines in 26 States
Construction employment decreased from June to July in 26 states and the District of Columbia as earlier widespread job gains gave way to more project cancellations, according to an analysis by the Associated General Contractors of America of government employment data. Association officials said construction employment is likely to continue falling in many parts of the country without new federal recovery measures, including liability reform…
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