Welcome to our Construction Industry News page, where we bring you the latest updates on mergers and acquisitions, key new hires, and significant industry shifts. Stay informed with breaking news and in-depth reporting to keep up with the fast-paced changes shaping the construction business.
BIRMINGHAM, Ala. (Feb. 27, 2022) — Construction Business Owner, the leading business magazine for contractors, is pleased to announce a free webinar presented in partnership with Divvy.
The live, online event, “Modern Expense Policies for Construction Companies,” will take place March 23, 2023, at 1 p.m. CST and will share top tips for creating (or updating) your company’s expense policy.
Registration is free at constructionbusinessowner.com/webinars.
WASHINGTON (Feb. 16, 2023) — The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, offering more evidence of the economy's resilience despite tighter monetary policy.
Other data on Thursday showed monthly producer prices increasing by the most in seven months in January as the cost of energy products surged. Even stripping out energy and other volatile components, underlying producer inflation rose at its fastest pace since last March.
NOVI, Mich. (Feb. 14, 2023) — Hino Motors Manufacturing U.S.A. Inc. announced a new management structure that places emphasis on North American expertise and a refined focus on responsibilities. The new management team, including president, chief operating officer (COO) and executive vice president (VP), represents decades of experience in the U.S. and brings together a formidable knowledge of manufacturing, compliance and strategy from Hino globally.
WASHINGTON (Feb. 14, 2023) — Associated Builders and Contractors (ABC) reports that its Construction Backlog Indicator declined 0.2 months to 9.0 in January, according to an ABC member survey conducted Jan. 20 to Feb. 3. The reading is 1.0 month higher than in January 2022.
View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for January. View the historical Construction Backlog Indicator and Construction Confidence Index data series.
RALEIGH, N.C. (Jan. 26, 2023) — FMI Corporation, a provider of consulting and investment banking services to the built environment, released the 2023 North American Engineering and Construction Industry Overview. The report provides a comprehensive forecast for a broad range of construction and engineering segments in the U.S. and Canada.
HAMILTON, N.J. (Feb. 7, 2023) — The Dodge Momentum Index (DMI), issued by Dodge Construction Network, fell 8.4% in January to 201.5 (2000=100) from the revised December reading of 220.0. In January, the commercial component of the DMI fell 10.0%, and the institutional component receded 4.7%.
NOVI, Mich. (Feb. 6, 2023) — Hino Trucks announced the appointment of Glenn Ellis to the position of president and chairman of the board for Hino Trucks, effective Feb. 1, 2023. Ellis succeeds Shigehiro Matsuoka, who retired after holding the position for four years, and will become the first U.S.-born president of Hino Trucks. In addition, Ellis will also serve as an officer of Hino Motors Limited, Hino Trucks' parent company.
Chico, Calif. (Jan. 26, 2023) — Work Truck Solutions, an authority on commercial vehicles, released their 2022 analysis of the commercial vehicle market. Work Truck Solutions is the only company that collects national data reflecting the customization of commercial vehicles done after the chassis or van is manufactured by an original equipment manufacturer (OEM), which defines their unique commercial use case.
WASHINGTON (Jan. 25, 2023) — The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $1 trillion equipment finance sector, showed their overall new business volume for December was $12.9 billion, up 9% year-over-year from new business volume in December 2021.
BIRMINGHAM, Ala. (Jan. 24, 2023) — Construction Business Owner, the leading business magazine for contractors, is pleased to announce a free webinar presented in partnership with Raken.
The live, online event, “Tips for Effectively Managing Your Construction Business,” will take place Feb. 16, 2023, at 1 p.m. CST and will share best practices for managing and creating processes that reduce risk and improve visibility.
WASHINGTON (Jan. 18, 2023) — Construction input prices fell 2.7% in December 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 also declined 2.7% for the month.
SUWANEE, Ga. (Jan. 18, 2023) — The familiar brand of orange construction equipment known as Doosan will now be called DEVELON throughout the world. Under the new brand name, the company will continue providing innovative products and solutions that exceed expectations, further cementing its status as a global leader in construction equipment and solutions for the infrastructure industry.
HAMILTON, N.J. (Jan. 9, 2023) — The Dodge Momentum Index (DMI), issued by Dodge Construction Network, improved 6.6% (2000=100) in December to 222.2 from the revised November reading of 208.3. In December, the commercial component of the DMI rose 8.4%, and the institutional component ticked up 2.7%.
WASHINGTON (Jan. 6, 2023) — The construction industry added 28,000 jobs on net in December, 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 risen by 231,000 jobs or 3.1%.
HAMILTON, N.J. (Dec. 19, 2022 ) — Total construction starts fell 18% in November to a seasonally adjusted annual rate of $926.3 billion, according to Dodge Construction Network. During the month, nonresidential building starts lost 25%, nonbuilding shed 21%, and residential starts dropped 5%.
BIRMINGHAM, Ala. (Jan. 3, 2023) — Construction Business Owner, the leading business magazine for contractors, is pleased to announce a free webinar presented in partnership with Deltek.
The live, online event, “The Basics of Construction Accounting,” will take place Jan. 26, 2023, at 1 p.m. CST and will highlight the how contractors can improve their practical knowledge of accounting fundamentals.
Registration is free at constructionbusinessowner.com/webinars.
WASHINGTON (Dec. 13, 2022) — Associated Builders and Contractors (ABC) reports that its Construction Backlog Indicator increased to 9.2 months in November, according to an ABC member survey conducted Nov. 21 to Dec. 6. The reading is 0.8 months higher than in November 2021.
View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for November 2022.
WASHINGTON (Dec. 14, 2022) — After four straight three-quarter-point interest rate hikes, the Federal Reserve is set to announce a smaller half-point increase in its key rate Wednesday, a first step toward dialing back its efforts to combat inflation.
HAMILTON, N.J. (Dec. 7, 2022) — The Dodge Momentum Index (DMI), issued by Dodge Construction Network, increased 3.8% (2000=100) in November to 207.2 from the revised October reading of 199.6. During the month, the DMI continued its steady ascent, with the commercial component rising 4.3%, and the institutional component ticking up 2.7%.
