Economy: Page 22
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Courtesy of U.S. Army Corps of Engineers
Michigan’s Soo Lock reaches construction milestone, preps for Phase 2
The lock, first authorized in 1986, finally began construction in 2020. Two major phases remain.
By Matthew Thibault • Aug. 15, 2022 -
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PPI posts first decline since April 2020
After 20 months of sequential increases, the producer price index was 0.5% lower last month, the first negative reading since April 2020, with costs for nonresidential construction inputs dipping 1.8%.
By Joe Bousquin • Aug. 11, 2022 -
Explore the Trendline➔
Permission granted by Associated General Contractors of America
TrendlineLabor
A roundup of articles about issues affecting the workforce.
By Construction Dive staff -
Procore to expand into fintech services, CEO says
The company’s new system would purchase materials for subcontractors, securing payment against the property itself using lien rights.
By Matthew Thibault • Aug. 10, 2022 -
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NYC construction activity still up for the year, but slumps in Q2
While higher than 2021, Q2's filings were 16% lower than the average since 2008, according to a new report.
By Sebastian Obando • Aug. 10, 2022 -
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‘Tougher times ahead’ for construction as July backlogs fall
As new work and profit expectations decline, ABC’s Anirban Basu said construction activity clearly “has begun to fade.”
By Joe Bousquin • Aug. 9, 2022 -
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AECOM raises guidance amid higher profits, lower revenue
Backlog at the 10th largest U.S. contractor increased by 3.5% to $41.1 billion, but COVID-19 in China and industry staffing shortages remain as challenges.
By Joe Bousquin • Aug. 9, 2022 -
Courtesy of Turner Construction
July’s job gains ‘shockingly’ strong as construction adds 32K positions
The news wasn’t all good, though, as it gave the Fed more reason to keep raising interest rates.
By Joe Bousquin • Aug. 5, 2022 -
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Freddie Mac expects multifamily contraction through the end of 2022
Macroeconomic headwinds include inflation and rising Treasury rates.
By Mary Salmonsen • Aug. 4, 2022 -
Sean Gallup via Getty Images
Construction job openings plunged by 71,000 in June
Vacancies in the industry fell 17.5% as the debate over whether the U.S. is in a recession rages on.
By Joe Bousquin • Aug. 3, 2022 -
Permission granted by James Kim Photography + PC Construction
Did the US just sink into a recession?
Two consecutive quarters of economic contraction commonly defines a recession, but a construction economist sees growth ahead.
By Sebastian Obando • Aug. 2, 2022 -
Mario Tama via Getty Images
US economy faces recession question as inflationary pressures continue
Ongoing pressures raise the question of whether the country is inching toward a recession. That threat is emerging amid conflicting economic indicators.
By Grace Noto • Aug. 1, 2022 -
Justin Sullivan via Getty Images
DOE extends $2.5B loan to build 3 EV battery factories
The loan would aid construction of new facilities in Ohio, Tennessee and Michigan.
By Matthew Thibault • Aug. 1, 2022 -
Courtesy of Granite Construction
Granite’s Q2 profit, revenue dip as company continues strategic shift
The Watsonville, California-based civil contractor said the infrastructure act remains a bright spot ahead as it battles labor woes and works through less profitable projects.
By Julie Strupp • July 29, 2022 -
Justin Sullivan via Getty Images
CHIPS Act passes House, secures $52B for semiconductor industry
Several massive manufacturing-related construction projects are depending on the act in order to move forward.
By Matthew Thibault , Sebastian Obando • July 28, 2022 -
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Top 10 US metros for construction starts
The value of the commercial and multifamily sectors rose in top metro areas in the first half of 2022, per a new report.
By Julie Strupp • July 28, 2022 -
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Dodge economist: Recession may be 'fairly short'
A new report acknowledges tumultuous market conditions but highlights infrastructure spending and an emphasis on broadband as strong points.
By Matthew Thibault • July 26, 2022 -
Sean Gallup via Getty Images
Nonresidential construction starts fall 14%; ABI outlook cloudy
As recession fears spread, the industry logged a slowdown in commercial, manufacturing and institutional activity last month, while architects’ billings grew at a slower pace.
By Joe Bousquin • July 21, 2022 -
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Federal Reserve report signals slowing construction demand
The Fed’s Beige Book, an anecdotal gauge of business activity, saw moderating commodity prices, fewer building permits and even lower construction staffing needs.
By Joe Bousquin • July 19, 2022 -
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Peak pricing? June's PPI shows signs of relief for construction materials.
While nonresidential construction materials costs climbed higher again in June, softening commodity prices may signal the beginning of the end of nonstop escalation.
By Joe Bousquin • July 15, 2022 -
John Moore via Getty Images
Construction contractor outlook darkens as profit expectations, backlog fall
The Associated Builders and Contractors’ confidence index was down for the fourth consecutive month, while backlog dropped slightly and expectations for profits fell into negative territory.
By Joe Bousquin • July 13, 2022 -
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Infrastructure actWhat contractors need to know about IIJA’s construction tech carve-outs
Two programs funnel federal dollars to advance the use of technology in construction, but there are key differences, experts said.
By Matthew Thibault • July 13, 2022 -
Permission granted by Dream Hotel Group
$550M hotel-casino latest in Las Vegas entertainment push
The project is expected to generate significant tax revenue and create about 4,000 new direct and indirect construction jobs.
By Sebastian Obando • July 12, 2022 -
Spencer Platt via Getty Images
Gilbane sees slivers of hope for material, supply chain woes
The No. 11 contractor expressed measured optimism for 2022’s second half due to improving lead times and better steel, lumber and copper prices.
By Joe Bousquin • July 12, 2022 -
Construction workers work on an infrastructure project. via Getty Images
Why June's upbeat jobs report isn't necessarily positive for construction
More workers on the job mean fewer job seekers available to fill the 466,000 open positions in the building industries — the largest gap on record.
By Joe Bousquin • July 11, 2022 -
Justin Sullivan via Getty Images
San Francisco ranked the world's most expensive city for construction
The city overtakes Tokyo as inflation and supply chain snarls affect markets across the globe.
By Matthew Thibault • July 8, 2022
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