Confidence in the commercial construction industry is strong, despite significant concerns around jobsite efficiency and labor productivity, according to the Q4 2017 USG Corporation + U.S. Chamber of Commerce Commercial Construction Index (Index). The Index shows that optimism remains high in the commercial construction industry, with 57 percent of contractors expecting to hire in the next six months and a large majority reporting stable or increased revenue expectations in the next year.
The American Institute of Architects (AIA) reported the October ABI score was 51.7, up from a score of 49.1 in the previous month. This score reflects an increase in design services provided by U.S. architecture firms (any score above 50 indicates an increase in billings).
Michael D. Bellaman, president and CEO of Associated Builders and Contractors Inc. (ABC), issued a statement supporting the Unified Framework for Fixing Our Broken Tax Code released by congressional and administration leaders.
Construction input prices rose 0.6 percent in August and are up 3.7 percent on a yearly basis, according to an analysis by Associated Builders and Contractors Inc. (ABC) based upon data released by the Bureau of Labor Statistics (BLS). Nonresidential construction input prices behaved similarly, rising 0.6 percent for the month and 3.5 percent for the year.
Associated Builders and Contractors Inc. (ABC) praised the Trump administration’s efforts to roll back burdensome regulations that drive up construction costs and hold back small business hiring and expansion.
Real gross domestic product (GDP) expanded by 2.6 percent on a seasonally adjusted annualized basis during the year’s second quarter, according to Associated Builders and Contractors Inc.’s (ABC) analysis of data released by the U.S. Bureau of Economic Analysis. Nonresidential fixed investment, a category of GDP embodying nonresidential construction activity, expanded at a 5.2 percent seasonally adjusted annual rate. This follows a 7.2 percent expansion during the first quarter.
In June, the not seasonally adjusted (NSA) construction unemployment rate was 4.5 percent, down 0.1 percent from a year ago. The percentage is the lowest June rate on record, according to data from the U.S. Bureau of Labor Statistics (BLS).
Associated Builders and Contractors (ABC) and the U.S. Pan Asian American Chamber of Commerce (USPAACC) signed a Memorandum of Understanding (MoU) calling for the two organizations to work jointly to ensure that all contractors have a fair and equal opportunity to compete for and win contracts to build federal, state, and locally funded construction projects.
The buildings of tomorrow are chock full of Internet of Things (IoT) devices and equipment that connect tenants, mechanical systems, and facility managers to up-to-the-minute data and progress reports.
National construction employment added 16,000 net new jobs on a seasonally adjusted basis in June, according to an analysis of data from the U.S. Bureau of Labor Statistics by Associated Builders and Contractors (ABC). Overall construction employment expanded 3.1 percent on a year-over-year basis, easily outpacing the year-over-year growth rate of 1.6 percent for all non-farm industries.
