Construction Spending at Record Levels for Second Straight Month

Construction spending is at record levels for the second straight month in March and is up 4.9 percent for the first three months of year compared to the same period in 2016, despite dipping slightly compared to February, according to an analysis by the Associated General Contractors of America. Association officials said many firms are eager to see details of…

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Construction Spending Ticks Upward

The U.S. Census Bureau of the Department of Commerce announced that construction spending during October 2016 was estimated at a seasonally adjusted annual rate of $1,172.6 billion, 0.5 percent (±1.5 percent) above the revised September estimate of $1,166.5 billion. The October figure is 3.4 percent (±1.8 percent) above the October 2015 estimate of $1,134.4 billion.

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Construction Starts Ease Back 2 Percent in September

The value of new construction starts in September decreased a slight 2 percent to a seasonally adjusted annual rate of $703.7 billion, according to Dodge Data & Analytics. This follows the 22 percent jump for total construction starts in August, which witnessed the highest monthly pace for construction starts so far in 2016.

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July Construction Starts Slip 2 Percent

At a seasonally adjusted annual rate of $586.3 billion, new construction starts in July fell 2 percent from the previous month, according to Dodge Data & Analytics. A steep drop by electric utilities pulled down the nonbuilding construction sector, which in turn contributed to the slight decline for total construction starts.

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January Construction Climbs 9 Percent

The value of new construction starts climbed 9 percent in January to a seasonally adjusted annual rate of $621.0 billion, according to Dodge Data & Analytics. The increase for total construction was the result of an especially strong performance by the nonbuilding construction sector, which benefitted from the start of a massive liquefied natural gas terminal facility in Texas.

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Construction Materials Prices Hold Steady

Overall construction materials prices remained flat in May but are up 1.6 percent year over year according to the June 13 Producer Price Index release supplied by the U.S. Department of Labor. Nonresidential construction materials prices fell 0.2 percent for the month but are 1.3 percent higher than at the same time one year ago.

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May Construction Retreats 5 Percent; Highways Up

At a seasonally adjusted annual rate of $513.4 billion, new construction starts in May dropped 5 percent from the previous month, according to McGraw Hill Construction, a division of McGraw Hill Financial. The reduced pace for total construction starts reflected a moderate loss of momentum for nonresidential building and housing, while the nonbuilding construction sector eased back slightly.

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Construction Unemployment Lowest in Six Years

Construction employers added 6,000 workers to payrolls in May as the industry’s unemployment rate dropped to 8.6 percent, its lowest May level in six years, according to an analysis of new government data by the Associated General Contractors of America. However, association officials cautioned that gains remain spotty and that thousands of highway construction jobs are at risk because of…

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