News

WASHINGTON (Aug. 9, 2022) — Associated Builders and Contractors (ABC) reported today that its Construction Backlog Indicator fell 0.2 months in July and stands at 8.7 months, according to an ABC member survey conducted July 20 to Aug. 3. The reading is up 0.2 months from July 2021.

View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for July 2022. 

HAMILTON, N.J. (Aug. 5, 2022) — The Dodge Momentum Index (DMI) increased 2.9% in July to 178.7 from the revised June figure of 173.6.

WASHINGTON (Aug. 5, 2022) — The construction industry added 32,000 jobs on net in July, according to an Associated Builders and Contractors (ABC) analysis of data released today by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has increased by 311,000 jobs, or 4.2%.

WASHINGTON (Aug. 3, 2022) — The not seasonally adjusted (NSA) national construction unemployment rate plunged 3.8% in June 2022 from June 2021, down from 7.5% to 3.7%. Meanwhile, all 50 states had lower unemployment rates over the same period, according to a state-by-state analysis of U.S. Bureau of Labor Statistics data released today by Associated Builders and Contractors (ABC).

HAMILTON, N.J. (July 20, 2022) — Total construction starts fell 5% in June to a seasonally adjusted annual rate of $932.3 billion, according to Dodge Construction Network. Nonresidential building starts lost 14% during the month and residential was 6% lower. On the contrary, nonbuilding starts gained 13% in June due to the start of several large solar projects.

HAMILTON, N.J. (July 11, 2022) — The Dodge Momentum Index (DMI) increased less than one percentage point in June to 173.6 (2000=100) from the revised May reading of 173.1, pushing the measure to a 14-year high.

WASHINGTON (July 12, 2022) — Associated Builders and Contractors (ABC) reports that its Construction Backlog Indicator fell 0.1 months in June and stands at 8.9 months, according to an ABC member survey conducted June 21 to July 5, 2022. The reading is up 0.4 months from June 2021. 

View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for June 2022.

BIRMINGHAM, Ala. (June 7 , 2022) — Construction Business Owner, the leading business magazine for contractors, is pleased to announce a free webinar presented in partnership with Deltek + ComputerEase.

The live, online event, “How Work in Progress Can Work for You,” will take place July 28, 2022, at 1 p.m. CDT and will highlight how contractors can use work-in-progress (WIP) reports to stay on top of every project and maximize profitability.

WASHINGTON (June 22, 2022) — The White House announced President Biden is calling on Congress and states to take additional legislative action to provide direct relief to American consumers who have been hit with the price hike. Specifically, he is calling on Congress to suspend the federal gas tax for three months, through September, without taking any money away from the Highway Trust Fund.

DUBLIN (June 21, 2022) — FlowForma aims to maintain its position as a leader in the fast-growing ‘no code’ software market with a funding round that raised $4.2M million from new and existing investors, and a next-generation product scheduled for end-of-year release. To support the strategy, Colm Heffernan, previously chief operating officer at Fenergo, has been appointed as chairman, bringing a decade’s experience in growing global businesses to the company. 

HAMILTON, N.J. (June 17, 2022) — Total construction starts rose 4% in May to a seasonally adjusted annual rate of $979.5 billion, according to Dodge Construction Network. Nonresidential building starts rose 20%, while residential starts fell by 4% and nonbuilding lost 2% during the month.

WASHINGTON (June 14, 2022) — Associated Builders and Contractors (ABC) reports that its Construction Backlog Indicator increased to nine months in May from 8.8 months in April, according to an ABC member survey conducted May 17 to June 3. The reading is up one month from May 2021.

DEERFIELD, Ill. (June 14, 2022) — Caterpillar Inc. announced it will move its global headquarters to the company’s existing office in Irving, Texas, from its current location in Deerfield, Illinois.

“We believe it’s in the best strategic interest of the company to make this move, which supports Caterpillar’s strategy for profitable growth as we help our customers build a better, more sustainable world,” said Chairman and CEO Jim Umpleby. 

MOLINE, Ill. (June 14, 2022) — John Deere announced an expanded relationship with Wacker Neuson, a leading manufacturer of compact and construction machines, for 0-9-metric-ton excavators, to include North America.

CINCINNATI (June 14, 2022) – Stack Construction Technologies announced today its partnership with construction industry cost data experts BNi Building News. Stack's platform will integrate with BNi’s national and regional item cost data within its estimating solution. By embedding BNi’s materials and labor cost data in its estimating solution, contractors will be able to create accurate estimates optimized for their project location.

NEW YORK (June 7, 2022) — COWI, in joint venture with CHA Consulting, Inc. (CHA) as the owner's engineer, provided quality oversight to support the Triborough Bridge and Tunnel Authority (TBTA) in the completion of five design-build contracts worth $123 million to rehabilitate the Hugh L. Carey and Queens Midtown Tunnels. The upgrade project has advanced current systems, enhancing public safety and reliability of the city’s transport network.

HAMILTON, N.J. (June 7, 2022) — The Dodge Momentum Index (DMI) jumped 7% in May to 176.2 (2000=100), up from the revised April reading of 165.2. The Momentum Index, issued by Dodge Construction Network, is a monthly measure of the initial report for nonresidential building projects in planning shown to lead construction spending for nonresidential buildings by a full year. In May, the institutional component of the Momentum Index rose 9%, and the commercial component increased 6%.

BIRMINGHAM, Ala. (May 24, 2022) — Construction Business Owner, the leading business magazine for contractors, is pleased to announce a free webinar presented in partnership with DivvyPay Inc.

The live, online event, “5 Ways Construction Businesses Can Cut Costs & Improve Cash Flow in 2022,” will take place June 16, 2022, at 1 p.m. CDT and will share how contractors can boost their bottom line by cutting costs, managing expenses and improving cash flow.

TOKYO (May 23, 2022) — According to Reuters, the White House is weighing an emergency declaration to release diesel from a rarely used stockpile in a bid to address a major supply crunch and blunt rising prices, an administration official said on Monday.

Diesel is essential for the U.S economy, powering farms and the construction sector along with the trucks, trains and boats that help move goods. Rising diesel prices will help drive up inflation, which has hit 40-year highs.

MILWAUKEE (May 19, 2022) — The Association of Equipment Manufacturers (AEM) released The Future of Building, a white paper detailing the drivers influencing how the construction industry could transform over the next 10 years in North America.