Total construction starts rose 17% in July to a seasonally adjusted annual rate of $1.2 trillion, according to Dodge Construction Network. Nonbuilding starts drove the increase, rising 38%, due to the start of a singular large LNG facility. Residential starts rose 20%, while nonresidential building starts lost 6%.
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Construction Spending Rises in May, Highways Down
Construction spending during May 2023 was estimated at a seasonally adjusted annual rate of $1,925.6 billion, 0.9% (±0.5%) above the revised April estimate of $1,909.0 billion. The May figure is 2.4% (±1.2%) above the May 2022 estimate of $1,880.9 billion. During the first five months of this year, construction spending amounted to $740.8 billion, 2.9% (±1.0%) above the $719.6 billion for the same period in 2022.
Read MoreBuying American-Made Products is Good, Until it Isn’t
Buying American-made products used to be a tried and true mantra in the construction profession, but now, in an article on the ConExpo-Con/Agg website, Neil Gerrard writes, construction officials are warning contractors that incoming regulations on the source of construction products and materials could lead to further price rises in the sector.
Read MoreTotal Construction Starts Rebound in May
Total construction starts rose 8% in May to a seasonally adjusted annual rate of $1.11 trillion, according to Dodge Construction Network. Nonresidential starts rebounded following the decline in April, improving 8% thanks to a sizeable gain in manufacturing starts. During the month, nonbuilding starts improved by 24%, while residential lost 4%.
Read MoreTsurumi Offers a Pump Built for Every Construction and Mining Job
Tsurumi Pump displayed its product range for nearly every need in construction, mining, industrial and countless other applications at this year’s ConExpo-Con/Agg show. The pump manufacturer focused on the quality and reliability found throughout its entire product line, which is strengthened by an extensive inventory of pumps and parts. “Tsurumi prides itself on having dewatering pumps capable of handling large…
Read MoreAEM Celebrates Construction on National Mall
Association of Equipment Manufacturers (AEM) and more than 40 member companies and industry partners leveraged the inaugural Celebration of Construction on the National Mall to engage with stakeholders on the industry’s policy priorities.
Read MoreConstruction Spending Rises in March; Highways Up
According to the U.S. Census Bureau, construction spending during March 2023 was estimated at a seasonally adjusted annual rate of $1,834.7 billion, 0.3% (±0.5%) above the revised February estimate of $1,829.6 billion. The March figure is 3.8% (±1.2%) above the March 2022 estimate of $1,768.2 billion. During the first three months of this year, construction spending amounted to $403.3 billion, 4.3% (±1.0%)…
Read MoreTotal Construction Jumps to Three-Month High in March
Total construction starts increased 19% in March to a seasonally adjusted annual rate of $1.09 trillion, according to Dodge Construction Network. During the month, nonresidential starts rose 33%, nonbuilding starts increased 17%, and residential starts moved 5% higher.
Read MoreSingle-Family Starts Improve in March
Single-family production showed signs of a gradual upturn in March as stabilizing mortgage rates and limited existing inventory helped to offset stubbornly high construction costs, building labor shortages and tightening credit conditions.
Read MoreBKT at ConExpo-Con/Agg 2023
BKT, Balkrishna Industries Limited, started its off-highway tire business in 1987. For more than 30 years, BKT has successfully focused on specialty segments such as agriculture, construction, mining, industrial, earthmoving, port, ATV, and lawn and garden. Headquartered in Mumbai and with five state-of-the-art manufacturing facilities in India, BKT has an extensive product range of more than 3,200 high-performance tires. The…
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