Construction Industry News

MOLINE, Ill. (Feb. 21, 2022) — The latest updated quarterly American Rental Association (ARA) forecast for equipment rental revenue now calls for a 10.2% increase in 2022 to reach $52.7 billion in the United States, a slight increase from the previous forecast in October 2021, reflecting the positive influence of expected increases in infrastructure spending.

ARLINGTON, Va. (Feb. 15. 2022) — Prices of construction materials jumped more than 20% from January 2021 to January 2022, according to an analysis by the Associated General Contractors of America (AGC) of government data.

WASHINGTON (Feb. 15, 2022) — The White House announced on Tuesday a new task force to promote use of construction materials with lower life cycle emissions as it works to speed U.S. government purchases of greener products.

BIRMINGHAM, Ala. (Jan. 31, 2022) — Construction Business Owner, the leading business magazine for contractors, is pleased to announce a free webinar presented in partnership with Arcoro.

The live, online event, “Why You Can’t Hire Your Way Out,” will take place Feb. 24, 2022, at 1 p.m. CST and will highlight how contractors can build a pipeline of talent to keep their businesses moving forward.

Registration is free at constructionbusinessowner.com/webinars.

WASHINGTON (Jan. 27, 2022) — The U.S. economy grew at a 6.9% annualized rate in the fourth quarter of 2021, according to an Associated Builders and Contractors (ABC) analysis of data released by the Bureau of Economic Analysis. Investment in nonresidential structures decreased at an annual rate of 11.4% for the quarter and has now contracted in eight of the past nine quarters.

BIRMINGHAM, Ala. (Jan. 27, 2022) — Construction Business Owner, the leading business magazine for contractors, is pleased to announce a free webinar presented in partnership with PeerAssist.

The live, online event, “Technology in Construction: 3 Considerations for Choosing & Implementing the Right Solutions for Your Business” will take place Feb. 17, 2022, at 1 p.m. CST and will share helpful advice on how your company can successfully select and roll out relevant tools.

ARLINGTON, Va. (Jan. 25, 2022) — Construction employment in December remained below levels reached just before the start of the pandemic in more than half of states as firms struggled to find enough workers to hire, according to a new analysis of federal employment data by the Associated General Contractors of America (AGC). 

HAMILTON, N.J. (Jan. 19, 2022) — Total construction starts were flat in December with a seasonally adjusted annual rate of $879.3 billion, according to Dodge Construction Network. Residential construction starts gained 4% in December 2021, while nonresidential building starts improved by 3%. Nonbuilding starts, however, declined 12%.

WASHINGTON (Jan. 13, 2022) — Construction input prices rose 0.6% 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. Nonresidential construction input prices also rose 0.6% for the month.

CHICAGO (Jan. 11, 2022)  — Engineering USA, the North American subsidiary of the Engineering Group, has completed the acquisition of Movilitas, an industry frontrunner in digital supply chain and digital manufacturing consulting services and solutions. This strategic expansion aims to strengthen the capabilities and unique market position of the organization's Industries eXcellence Global division, which specializes in the design, integration and delivery of holistic technology solutions covering the end-to-end life cycle of industrial products and processes.

ARLINGTON, Va. (Jan. 12, 2022) — Construction contractors expect increasing demand for numerous types of projects in 2022 despite ongoing supply chain and labor challenges, as most firms plan to add workers this year, according to survey results released by the Associated General Contractors of America (AGC) and Sage.

PHOENIX, Ariz. (Jan. 9, 2022) — International property and construction consultancy firm Rider Levett Bucknall (RLB) has released its new Quarterly Cost Report (QCR) for North America. With data current to mid-fourth-quarter and featuring construction cost information for 14 United States and Canadian markets, the QCR provides a statistical view of the state of the construction industry, detailing indicative construction costs for eight building sectors.

HAMILTON, N.J. (Jan. 7, 2022) — The Dodge Momentum Index fell 3% in December 2021 to 166.4, down from the revised November reading of 170.7. The Momentum Index, issued by Dodge Construction Network, is a monthly measure of the initial report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. In December, commercial planning fell 4%, and institutional planning slipped 1%.

STRONGSVILLE, Ohio (Jan. 6, 2022) — Foundation Software has announced the acquisition of Estimating Edge, developer of The Edge commercial construction estimating, project management tracking and takeoff software. This acquisition further enables Foundation to serve the construction community by providing software and services that align and strengthen contractors’ back-office operations.

ARLINGTON, Va. (Dec. 22, 2021) — Construction employment increased in nearly two out of three U.S. metro areas between November 2020 and November 2021, according to an analysis by the Associated General Contractors of America (AGC) of new government employment data. Association officials said the job gains are welcome news for the industry but cautioned that it will be difficult for construction levels to return to pre-pandemic levels amid tight labor market conditions.

NORCROSS, Ga. (Dec. 28, 2021) — Hyundai Construction Equipment Americas, Inc., recently announced that its parent company, Hyundai Construction Equipment (HCE), plans to invest $170 million in its Ulsan, South Korea, factory to increase production capacity by 50% and simplify its manufacturing processes for increased efficiency.

WASHINGTON (Dec. 21, 2021) — Associated Builders and Contractors (ABC) has released its seventh annual Merit Shop Scorecard, a ranking based on state policies and programs that encourage workforce development, grow career and technical education, strengthen careers in construction and advocate for fair and open competition for taxpayer-funded construction projects.