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Construction starts rose a total of 17% for July to a seasonally-adjusted rate of $1.2 trillion, according to the just-released report from Dodge Construction Network. The latest data also indicated a 7% year-to-date drop in total construction starts when compared to the July 2022 totals... View full entry
The latest Associated Builders and Contractors (ABC) analysis of U.S. Bureau of Labor Statistics Producer Price Index data indicates that increasingly stable construction materials prices and recent supply chain improvements over the past few months may signal "positive... View full entry
Dodge Construction Network’s Dodge Momentum Index (DMI) fell by 0.9% in July to 193.4 from the revised June reading of 195.1. Last month, the commercial component remained relatively flat, declining only by 0.2%, and the institutional component fell 1.9%. Planning in all commercial sectors... View full entry
The report that we just released is showing spending for the year up 20%. So, we’ve obviously seen a much stronger first half of the year than was anticipated. And that’s reflected in the current projection for 2023 as a whole.
Since we’ve seen such a strong first half, the consensus is not for more acceleration in the second half. The consensus seems to be that strength is behind us and we’ll begin to moderate as we move into the second half of the year.
— Construction Dive
Baker predicts institutional construction will remain strong for the rest of this year, bolstered mainly by healthcare. Other sectors he expects to see a rebound include hospitality, K-12, and warehouses, albeit at a dampened pace for the third. He also mentions the new AIA Consensus Construction... View full entry
Total construction starts continue to fluctuate, with a 9% dip in June resulting in a seasonally adjusted annual rate of $1 trillion, according to the latest Dodge Construction Network report. Nonresidential starts led the decline, falling 14%. Nonbuilding starts fell 9%, and residential starts... View full entry
Spending on nonresidential building construction is expected to grow in late 2023 and beyond, according to the AIA’s latest Consensus Construction Forecast. The analysis projects that spending on nonresidential buildings will increase by almost 20% this year, a pace not seen since before the... View full entry
The latest billings data from the American Institute of Architects has found there to be a stable demand for design services across June 2023. The latest figures represent the first time since Fall 2022 that billings remained in positive growth for two consecutive months, indicating that... View full entry
Canadian wildfire smoke continues to blow over much of the U.S., raising air pollution to harmful levels for construction workers. Now, the impact of the fires is likely to raise U.S. lumber prices, too. — Construction Dive
As reported by Construction Dive, Canada’s devastating wildfire season, which has been felt across North America through declined air quality, has impacted the largest amount of land ever recorded in a single year. As a result, lumber prices are expected to rise as Canada supplies approximately... View full entry
The Dodge Momentum Index (DMI) continued its decline in June with a 2.5% decrease resulting in a reading of 197.3 from a revised May reading of 202.4. Over the course of last month, the commercial component rose 3.1%, while the institutional component dipped 10.5%. According to the Dodge... View full entry
The latest billings data from the American Institute of Architects has found there to be a rebound in the demand for design services across May 2023. The index score in May was the highest it has been since September 2022, while inquiries into new projects and design contracts reached their... View full entry
New data from the Dodge Construction Network (DCN) has shown construction starts increasing to a seasonally adjusted annual rate of $1.11 trillion for the month of May following the 4% decline for April that ended a steady two-month series of gains. Nonresidential starts rose 8% over the previous... View full entry
A new analysis by the Associated Builders and Contractors (ABC) has found that overall construction input prices are 3.7% lower than a year ago. Derived from new data from the U.S. Bureau of Labor Statistics Producer Price Index, the ABC analysis also found that construction input prices fell 0.6%... View full entry
Data from the latest Dodge Momentum Index (DMI) shows a slight decline of 2.0% to 180.5 for May, continuing a three-month downturn that follows April’s revised total of 184.1 and the 183.7 figure that was recorded in March. For the month, the DIM’s commercial component fell to 6.1%... View full entry
Engineering News-Record has released its 2023 rankings, listing the top commercial contractors in the United States. The companies were ranked by construction revenue in 2022. New York dominates the top 10 ranking with three firms, including the top spot, becoming the only state to hold more than... View full entry
New statistics from the American Institute of Architects' latest Architecture Billings Index (ABI) show a modest decrease for April, following the gains shown by the ABI in March for the first time since September. The billings score for April dropped to 48.5, down from the March total of... View full entry
