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...
Continue reading
  2551 Hits
  0 Comments
Tags:
2551 Hits
0 Comments

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 ...
Continue reading
  3346 Hits
  0 Comments
Tags:
3346 Hits
0 Comments

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...
Continue reading
  2823 Hits
  0 Comments
Tags:
2823 Hits
0 Comments

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...
Continue reading
  2499 Hits
  0 Comments
Tags:
2499 Hits
0 Comments

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 ...
Continue reading
  2433 Hits
  0 Comments
Tags:
2433 Hits
0 Comments

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,...
Continue reading
  2034 Hits
  0 Comments
Tags:
2034 Hits
0 Comments

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 ...
Continue reading
  2407 Hits
  0 Comments
Tags:
2407 Hits
0 Comments

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...
Continue reading
  2365 Hits
  0 Comments
Tags:
2365 Hits
0 Comments

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 ...
Continue reading
  2240 Hits
  0 Comments
Tags:
2240 Hits
0 Comments

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...
Continue reading
  2220 Hits
  0 Comments
Tags:
2220 Hits
0 Comments

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...
Continue reading
  2176 Hits
  0 Comments
Tags:
2176 Hits
0 Comments

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,...
Continue reading
  2904 Hits
  0 Comments
Tags:
2904 Hits
0 Comments

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,...
Continue reading
  1883 Hits
  0 Comments
Tags:
1883 Hits
0 Comments

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...
Continue reading
  1971 Hits
  0 Comments
Tags:
1971 Hits
0 Comments

Pending Home Sales Jump in June

Pending home sales continued to surprise in June, posting back-to-back months of improvement. According to the Pending Home Sales Index from the National Association of Realtors (NAR), sales in June increased 16.6%. Pending sales are also up more than 6% from June 2019. "It is quite surprising and remarkable that, in the midst of a global pandemic,...
Continue reading
  1723 Hits
  0 Comments
Tags:
1723 Hits
0 Comments

'Human Error' Heightens Cybersecurity Issues in US, UK

Human error is always a possibility in the decisions we make and unfortunately, it has played a significant role in cybersecurity hacks among U.S. and U.K. employees. According to Tessian's latest report, "The Psychology of Human Error," 43% of those surveyed said their mistakes caused cybersecurity-related repercussions for themselves or their com...
Continue reading
  2124 Hits
  0 Comments
Tags:
2124 Hits
0 Comments

New Home Sales Jump in June

New home sales are at a new high this year after outperforming expectations in June. The U.S. Census Bureau and Department of Housing and Urban Development announced Friday that new single-family sales increased 13.8% from May to a seasonally adjusted annual rate of 776,000 in June. This is also 6.9% above the June 2019 data, making it the best mon...
Continue reading
  1531 Hits
  0 Comments
Tags:
1531 Hits
0 Comments

Construction Leaders Confident in June Staffing Levels, Profit Margins, Sales

In times of such economic uncertainty, any sign of optimism can be a positive ray of light and, in this case, that is in the form of construction leader confidence. According to Associated Builders and Contractors' (ABC) Construction Backlog Indicator (CBI), construction leaders in the U.S. showed increased confidence in June as it pertained to sta...
Continue reading
  5113 Hits
  0 Comments
Tags:
5113 Hits
0 Comments

Housing Starts Jump in June

U.S. housing starts have skyrocketed at their strongest monthly increase in nearly four years. Privately owned housing starts in June jumped 17.3% to a seasonally adjusted rate of 1.186 million, according to the Census Bureau and Department of Housing and Urban Development. Reuters states the percentage increase was the largest since October 2016, ...
Continue reading
  1931 Hits
  0 Comments
Tags:
1931 Hits
0 Comments

'Buckling Global Supply Chains, Trade Tensions' Behind Increased Construction Input Prices

Construction input prices rose more than 2% in June, an increase that Associated Builders and Contractors (ABC) states are linked to "global supply chains buckling and trade tensions elevated." According to ABC's latest report, construction input prices rose 2.2%, while nonresidential construction input prices climbed a little higher to 2.3%.More t...
Continue reading
  2151 Hits
  0 Comments
Tags:
2151 Hits
0 Comments