Construction Industry News

PHILADELPHIA (Aug. 23, 2023) — NEST, provider of integrated facilities management, has teamed up with leaders across the construction, retail and skilled trades industries to create the Skilled Trades Advisory Council (STAC). Aimed to combat the crisis facing skilled labor in the U.S.

HAMILTON, N.J. (Aug. 16, 2023) — Total construction starts rose 17% in July to a seasonally adjusted annual rate of $1.2 trillion, according to Dodge Construction Network. Nonbuilding starts drove the increase, rising 38%, due to the start of a singular large LNG facility. Residential starts rose 20%, while nonresidential building starts lost 6%.

NEW YORK  (Aug. 10, 2023) — WINT Water Intelligence, a provider of water management and leak-prevention solutions for construction, commercial, residential and industrial applications, has completed a $35 million Series C funding round to drive continued growth and innovation in artificial (AI)- and Internet of Things (IoT)-based solutions for managing water and mitigating water damage throughout a

Birmingham, Ala. (Aug. 17, 2023) — Construction Business Owner Magazine and Digital Media (CBO), a prominent name in the construction industry for its insightful content and innovative approach, is proud to announce the appointment of Megan Beam as its new editor. With an extensive background in communications and content creation spanning over 15 years, Beam brings a wealth of expertise and experience to her role. 
 

WASHINGTON (Aug. 14, 2023) — During the State of the Union address, President Joe Biden committed to ensuring construction materials used in federally funded infrastructure projects are made in America. Delivering on the president’s commitments, the Office of Management and Budget (OMB) has released final guidance to boost the use of American-made goods in infrastructure projects.

WASHINGTON (Aug. 15, 2023) — Associated Builders and Contractors (ABC) reported that its Construction Backlog Indicator increased to 9.3 months in July, according to an ABC member survey conducted July 20 to Aug. 4. The reading is up by 0.6 months since July 2022.

HAMILTON, N.J. (Aug. 7, 2023) — The Dodge Momentum Index (DMI), issued by Dodge Construction Network, declined 0.9% in July to 193.4 (2000=100) from the revised June reading of 195.1. Over the month, the commercial component of the DMI remained relatively flat, ticking down 0.2%, while the institutional component fell 1.9%.

Aug. 1, 2023 — Caterpillar Inc. said on Tuesday that strong demand for heavy machinery from construction and mining industries was expected to drive full-year operating margin near the top end of its prior forecast, sending its shares to a record high.

The company, seen as a proxy for global economic activity, also reported better-than-expected second-quarter earnings, as sales rose across all of its main businesses.

HAMILTON, N.J. (July 21, 2023) — Total construction starts fell 9% in June to a seasonally adjusted annual rate of $1 trillion, according to Dodge Construction Network. Nonresidential starts led the downturn, falling 14%. Nonbuilding starts fell 9%, and residential starts lost 4%.

WASHINGTON (July 13, 2023) — Construction input prices remained unchanged in June compared to the previous month, according to an Associated Builders and Contractors (ABC) analysis of U.S. Bureau of Labor Statistics Producer Price Index data released today. Nonresidential construction input prices were also unchanged for the month.

HAMILTON, N.J. (July 11, 2023) — The Dodge Momentum Index (DMI), issued by Dodge Construction Network, declined 2.5% in June to 197.3 (2000=100) from the revised May reading of 202.4. Over the month, the commercial component of the DMI rose 3.1%, while the institutional component sunk 10.5%.

WASHINGTON (July 3, 2023) — National nonresidential construction spending decreased 0.2% in May, according to an Associated Builders and Contractors (ABC) analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.06 trillion.

HAMILTON, N.J. (June 20, 2023) — Total construction starts rose 8% in May to a seasonally adjusted annual rate of $1.11 trillion, according to Dodge Construction Network. Nonresidential starts rebounded following the decline in April, improving 8% thanks to a sizable gain in manufacturing starts. During the month, nonbuilding starts improved by 24%, while residential lost 4%.

WASHINGTON (June 13, 2023) — Associated Builders and Contractors (ABC) reported that its Construction Backlog Indicator remained unchanged at 8.9 months in May, according to an ABC member survey conducted May 20 to June 7. The reading is 0.1 months lower than in May 2022.

View the historic Construction Backlog Indicator and Construction Confidence Index data series.

HAMILTON, N.J. ( June 7, 2023) — The Dodge Momentum Index (DMI), issued by Dodge Construction Network, fell 2.0% in May to 180.5 (2000=100) from the revised April reading of 184.1. Over the month, the commercial component of the DMI fell 6.1%, while the institutional component improved 5.6%.

BIRMINGHAM, Ala. (June 7, 2023) — Construction Business Owner, the leading business magazine for contractors, is pleased to announce a free webinar presented in partnership with Avetta.

GUELPH, Ontario (June 5, 2023) — Linamar Corporation’s Skyjack division announce the retirement of Skyjack President Ken McDougall, and subsequent appointment of Charlie Patterson as president, effective Jan. 1, 2024. The two will be working together over the next several months to ensure a seamless transition for the organization.

June 5, 2023 — Tighter lending standards from regional banks are making it harder for U.S. hotel developers to secure funding, slowing construction of new hotels at a time Americans' appetite for travel is ripe.

BIRMINGHAM, Ala. (June 1, 2023) — Construction Business Owner, the leading business magazine for contractors, is pleased to announce a free webinar presented in partnership with AvidXchange.

The live, online event, “How Labor Shortages & Virtual Work Are Changing Purchase-to-Pay Processes,” will take place June 22, 2023, at 1 p.m. CDT and will review common pain points and solutions.

Registration is free at constructionbusinessowner.com/webinars.

HAMILTON, N.J. (May 18, 2023) — Total construction starts fell 4% in April to a seasonally adjusted annual rate of $1.04 trillion, according to Dodge Construction Network. Nonresidential starts led the drop as manufacturing fell 22% following strong performance in March. To balance the decline, nonbuilding starts rose 7%, and residential building stats gained 12%.