Construction Spending Slows, Still Increases in September

Construction spending continued to increase in September, but outlays have slowed slightly. Total construction spending increased 0.3% in September compared to August, according to this week's release from the Census Bureau. Spending is also above September 2019 by 1.5%. However, the improvement slowed from August 2020 when spending increased by 0....
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Price of Softwood Lumber, Natural Gas Increase By Double-Digit Percentages in September

September brought about an increase in construction input prices in large part due to the rising cost of softwood lumber, which has become 80% more costly than in September 2019. In Associated Builders and Contractors' (ABC) latest analysis of U.S. Bureau of Labor Statistics' data, September 2020's Producer Price Index revealed construction input p...
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September Existing-Home Sales Skyrocket

Existing-home sales continued surge in September, but the demand is outweighing the supply. Sales jumped 9.4%, according to the National Association of Realtors. Each of the four regions also saw increases month to month and year to year. "Home sales traditionally taper off toward the end of the year, but in September they surged beyond what we nor...
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Retail Sales Climb Higher Than Expected

Retail sales are on the rise again, and sales are faring better than expected. According to the Census Bureau, U.S. retail and food services sales in September increased 1.9% from August. Data is also 5.4% higher than September 2019. Sales between July and September 2020 were ahead 3.6% compared to the same period in 2019.Across the board, sales im...
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Construction Industry Concerned Over Pandemic’s Long-Term Impacts

Eight months into the pandemic, construction professionals are raising concerns over potential long-term impacts leading into the coming year. Associated Builders and Contractors' Construction Executive magazine recently conducted a survey highlighting the top concerns, including "supply chain disruptions, prolonged municipal permitting processes a...
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Dodge Momentum Index Increases in September

The Dodge Momentum Index is on the rise again after a 3.7% increase in September. The nonresidential construction spending indicator from Dodge Data & Analytics saw both the commercial and institutional components improve as well. The Index measures the initial report of nonresidential building projects in planning. The commercial aspect increa...
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Construction Spending Climbs in August

Construction spending in the U.S. is near levels seen at the beginning of the year. The Census Bureau announced earlier this week that construction spending in August increased 1.4% to a seasonally adjusted annual rate of $1,412.8 billion. This is also 2.5% above the August 2019 data. "A robust rise in residential more than offset a small decline i...
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New Home Sales Hit 14-Year High

New single-family homes in the U.S. are flying off the market, soaring to a 14-year high, according to the Census Bureau and the Department of Housing and Urban Development. Sales reached a seasonally adjusted annual rate of 1.011 million in August, which is 4.8% higher than July and 43.2% above August 2019.Economists predicted sales would decline ...
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Another Rise in Construction Input Prices

Construction input prices rose once again in August by more than half of a percent, according to Associated Builders and Contractors, where Chief Economist Anirban Basu said inflation is "a bit hotter than anticipated."Based on the latest results from the U.S. Bureau of Labor Statistics' Producer Price Index, construction input prices and inputs to...
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August Housing Starts Decline Further Than Expected

Housing starts across the U.S. are down further than expected, yet there is a silver lining in the recently released data. Housing starts in August fell to 1.416 million, according to the Census Bureau and Department of Housing and Urban Development. This is down 5.1% from July but up 2.8% from August 2019. Economists polled by Reuters expected sta...
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Dodge Momentum Index Improves for Second Straight Month

A construction spending indicator reports a potential increase in outlays as the U.S. economy continues to recover from earlier shutdowns. The Dodge Momentum Index, which measures the initial report of nonresidential building projects in planning, increased 1.8% in August, according to Dodge Data & Analytics."The August increase in the overall ...
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Construction Spending Increases Slower Than Expected

Total construction spending remained relatively unchanged for the month of July; however, the slight increase was less than expected. Spending inched forward 0.1% in July, according to the U.S. Census Bureau. The seasonally adjusted annual rate of $1,364.6 billion is also 0.1% below July 2019.Economists predicted spending would increase 1% in July,...
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Mail Delays Reach B2B Industry

Mail delays due to the United States Postal Service (USPS) have now reached the business-to-business credit industry. Many companies using paper checks for payroll are reporting delivery delays as well as delays in small businesses' shipments.Prior to the struggling USPS, news outlets began reporting delivery delays at the start of the pandemic in ...
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Pending Home Sales Continue Growth in July

Pending home sales in the U.S. are up three straight months after another strong showing in July. The National Association of Realtors (NAR) reported Thursday its Pending Home Sales Index increased 5.9%. This is also up 15.5% from July 2019. Economists predicted sales would increase 3% in July, states Reuters. "We are witnessing a true V-shaped sal...
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Existing-Home Sales Increase in July

Existing-home sales continue to gain momentum as the U.S. economy builds from the trough seen earlier this year due to the COVID-19 pandemic. Sales increased 24.7% in July, according to the National Association of Realtors, and for the second straight month. Sales were up nearly 9% from July 2019."The housing market is well past the recovery phase ...
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Construction Input Prices Rises for Fourth Consecutive Month

To the dismay of construction professionals, construction input prices rose once more in July by nearly 2%, according to Associated Builders and Contractors (ABC). Data from the U.S. Bureau of Labor Statistics revealed the majority of the increase was from inputs to nonresidential construction at 1.8%.Six out of the 11 subcategories saw lower price...
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Moderate Small Business Delinquencies Increase

The U.S. economy is still in the middle of a recovery after a spring drag down caused by government shut downs and other measures to halt the spread of COVID-19. "Defaults are expected to rise in coming quarters as forbearance programs expire and as customers are likely to change their priorities in the wake of COVID-19," according to the second qu...
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Nonresidential Building Construction Employment Takes Another Hit

The construction industry may have added 20,000 jobs on net last month, but July's nonresidential construction employment dwindled. July's job loss affected nonresidential construction by 4,000 jobs, with nonresidential building taking the biggest hit with its loss of 9,300 jobs.Despite some of the losses, there was some highlights in the industry,...
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Dodge Momentum Index Sees First 2020 Increase

The Dodge Momentum Index recorded its first increase in 2020. According to Dodge Data & Analytics, the index increased 3.4% in July, but it has declined 18% since December. The commercial building component increased 5.3%, while the institutional building component saw no change. The index measures the initial report of nonresidential projects,...
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US Sees Decline in Construction Output

Construction may be considered essential during these troubling economic times, but that doesn't mean the industry is immune to the crisis. According to the latest readings from Associated Builders and Contractors (ABC), construction output is down significantly due to interruptions from COVID-19.The U.S. Bureau of Economic Analysis found nonreside...
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