The U.S. Census Bureau of the Department of Commerce reported that construction spending during July 2014 was estimated at a seasonally adjusted annual rate of $981.3 billion, 1.8 percent (±1.6 percent) above the revised June estimate of $963.7 billion. The July figure is 8.2 percent (±2.3 percent) above the July 2013 estimate of $906.6 billion.
Read MoreTag: nonresidential construction
Nonmetallic Minerals Index Rises
August 22, 2014 – Good big-picture news on the production front. According to USGS, the nonmetallic mineral products leading index increased 1.2 percent to 241.6 in July from a revised 238.8 in June, and its six-month smoothed growth rate increased to 7.4 percent from a revised 5.9 percent in June. The six-month smoothed growth rate is a compound annual rate…
Read MoreConstruction Adds Jobs in June; Nonresidential Sluggish
The U.S. construction industry added 6,000 jobs in June, according to the Bureau of Labor Statistics (BLS) July 3 report; however, nonresidential construction added only 700 of those jobs and the heavy and civil engineering sector lost 700 jobs.
Read MoreConstruction Spending Ticks Upward
April construction spending was estimated at a seasonally adjusted annual rate of $953.5 billion. Find out how highways fared.
Read MoreConstruction Materials Prices Increase
Overall construction materials prices increased 0.4 percent in April and are up 1.5 percent year over year, according to the May 14 Producer Price Index released by the U.S. Department of Labor. Nonresidential construction material prices were up 0.5 percent for the month and are 1.4 percent higher than the same time last year.
Read MoreNonresidential Construction Index Sets Record High
According to FMI, the NRCI has once again inched higher into positive territory with a score of 65.8, a gain of just 0.9 points over last quarter’s results. That’s another record for the NRCI, but that gain might have been higher if the change in material and labor costs was not included as part of the Index score calculations.
Read MoreSullivan Predicts Growth at World of Concrete
January 22, 2014 – On the first day of the World of Concrete 2014 Show in Las Vegas, The Portland Cement Association’s Chief Economist Ed Sullivan forecast 8 percent growth in cement production this year, according to Don Marsh, editor of sister publication Concrete Products, who is reporting live from the show.
Read More