The U.S. Census Bureau announced that construction spending during November 2021 was estimated at a seasonally adjusted annual rate of $1,625.9 billion, 0.4% (±1.0%) above the revised October estimate of $1,618.8 billion. The November figure is 9.3% (±1.2%) above the November 2020 estimate of $1,487.2 billion.
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Population Stagnation
Dec. 21, 2021 – According to Ken Simonsen, chief economist at Associated General Contractors, U.S. population growth slowed between July 1, 2020 and July 1, 2021 to “0.1%, the lowest rate since the nation’s founding,” the Census Bureau reported. Population changes over time are a major contributor to demand for numerous types of construction, funding for public construction, and supply of potential construction workers. “The slow…
Read MoreConstruction Spending Down in August; Highways Dip
Construction spending during September 2021 was estimated at a seasonally adjusted annual rate of $1,573.6 billion, 0.5% (±1.0%) below the revised August estimate of $1,582.0 billion. The September figure is 7.8% (±1.5%) above the September 2020 estimate of $1,459.3 billion.
Read MoreConstruction Spending Flat in August; Highways Up
The U.S. Census Bureau announced that construction spending during August 2021 was estimated at a seasonally adjusted annual rate of $1,584.1 billion, virtually unchanged from (±1.0%) the revised July estimate of $1,584.0 billion. The August figure is 8.9% (±1.5%) above the August 2020 estimate of $1,455.0 billion. During the first eight months of this year, construction spending amounted to $1,034.5 billion, 7.0%…
Read MoreMaterials Prices Still Rising
Aug. 31, 2021 – According to Ken Simonson, Associated General Contractors’ chief economist, materials prices continue to rise for a variety of inputs. Vulcan Materials Co. notified customers it “will implement 2022 price increases at or near 11% across our markets, with less flexibility than you may have been accustomed to in the past.” On Aug. 13, USG notified customers it would increase prices effective…
Read MoreMaterials Prices Keep Rising
August 16, 2021 – According to Ken Simonsen, chief economist at Associated General Contractors, construction materials costs continued to outstrip bid prices in the 12 months ending in July despite a recent drop in lumber and copper prices. The producer price index (PPI) for new nonresidential building construction – a measure of the price that contractors say they would charge to build a…
Read MoreThat’s A Lot of Money Per Year
Aug. 10, 2021 – When the FAST Act was signed into law in 2015 by President Obama, it averaged $45 billion per year in spending on roads and bridges. Contrast that to the Infrastructure Investment and Jobs Act just passed by the Senate. The bill, which now goes to the House, averages just over $70 billion per year, according to National Stone, Sand & Gravel Association Vice…
Read MoreConstruction Spending Higher in June; Highways Down
The U.S. Census Bureau announced that construction spending during June 2021 was estimated at a seasonally adjusted annual rate of $1,552.2 billion, 0.1% (±1.2%) above the revised May estimate of $1,551.2 billion. The June figure is 8.2%(±1.3%) above the June 2020 estimate of $1,435.0 billion.
Read MoreConstruction Spending Down in May; Highways Up
The U.S. Census Bureau reported that construction spending during May 2021 was estimated at a seasonally adjusted annual rate of $1,545.3 billion, 0.3% (±1.0%) below the revised April estimate of $1,549.5 billion.
Read MorePrices Continue to Rise
June 22, 2021 – In its first quarter report, Vulcan Materials noted, “The pricing environment continues to be positive across the company’s footprint as demand visibility continues to improve. For the quarter, freight-adjusted pricing increased 2% (mix-adjusted pricing increased 1.3%). Mix-adjusted pricing improved sequentially in March, reflecting recently announced price increases in certain key markets. Prices are expected to continue to increase sequentially during the remainder…
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