Construction spending during October 2024 was estimated at a seasonally adjusted annual rate of $2,174.0 billion, 0.4% (±1.2%) above the revised September estimate of $2,164.7 billion. The October figure is 5.0% (±1.5%) above the October 2023 estimate of $2,071.1 billion. During the first 10 months of this year, construction spending amounted to $1,814.8 billion, 7.2% (±1.2%) above the $1,693.2 billion…
Read MoreTag: Associated Builders and Contractors
Construction Spending Down in July
According to the U.S. Census Bureau, construction spending during July 2024 was estimated at a seasonally adjusted annual rate of $2,162.7 billion, 0.3% (±1.0%) below the revised June estimate of $2,169.0 billion. The July figure is 6.7% (±1.8%) above the July 2023 estimate of $2,027.4 billion. During the first seven months of this year, construction spending amounted to $1,237.5 billion,…
Read MoreABC Looks at AI
Oct. 9, 2024 – The rapid advancement of artificial intelligence represents a new technological paradigm for the construction industry, with global leading solutions and companies in construction focused on helping the people who build our infrastructure, according to Matt Abeles, vice president, construction technology and innovation, Associated Builders and Contractors (ABC). “The last three tech reports have focused on construction-specific technologies,…
Read MoreConstruction Employment Spikes in September; 25,000 Jobs Added
The construction industry added 25,000 jobs on net in September, according to an Associated Builders and Contractors (ABC) analysis of data released by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment is up by 238,000 jobs, an increase of 3.0%. Nonresidential construction employment increased by 17,900 positions on net, with growth in two of the three…
Read MoreConstruction Spending Down in June; Up for Year
According to the U.S. Census Bureau, construction spending during June 2024 was estimated at a seasonally adjusted annual rate of $2,148.4 billion, 0.3% (±1.0%) below the revised May estimate of $2,154.8 billion. The June figure is 6.2% (±1.6%) above the June 2023 estimate of $2,023.0 billion. During the first six months of this year, construction spending amounted to $1,034.8 billion,…
Read MoreNonresidential Construction Employment Increased by 28,300 in August
The construction industry added 34,000 jobs on net in August, according to an Associated Builders and Contractors (ABC) analysis of data released today by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment grew by 228,000 jobs, an increase of 2.8%. Nonresidential construction employment increased by 28,300 positions on net, with growth in all three subcategories. Nonresidential…
Read MoreConstruction Spending Down in June; Up for Year
According to the U.S. Census Bureau, construction spending during June 2024 was estimated at a seasonally adjusted annual rate of $2,148.4 billion, 0.3% (±1.0%) below the revised May estimate of $2,154.8 billion. The June figure is 6.2% (±1.6%) above the June 2023 estimate of $2,023.0 billion. During the first six months of this year, construction spending amounted to $1,034.8 billion,…
Read MoreWater Resources Development Act of 2024 Passes House
On July 22, the House of Representatives approved by a vote of 359 to 13 the Water Resources Development Act of 2024 (WRDA), legislation that authorizes the U.S. Army Corps of Engineers (Corps) Civil Works Program for projects to improve the nation’s ports and harbors, inland waterway navigation, flood and storm protection and other aspects of U.S. water resources infrastructure.…
Read MoreConstruction Spending Down in April; Highways Lower
According to the U.S. Census Bureau, construction spending during April 2024 was estimated at a seasonally adjusted annual rate of $2,099.0 billion, 0.1% (±1.0%) below the revised March estimate of $2,101.5 billion. The April figure is 10.0% (±1.5%) above the April 2023 estimate of $1,907.8 billion. During the first four months of this year, construction spending amounted to $635.5 billion,…
Read MoreConstruction Prices Rise in April
Construction input prices increased 0.5% in April compared to the previous month, according to an Associated Builders and Contractors (ABC) analysis of U.S. Bureau of Labor Statistics Producer Price Index data released today. Nonresidential construction input prices increased 0.6% for the month. Overall construction input prices are 2.3% higher than a year ago, while nonresidential construction input prices are 2.2%…
Read More