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.

WASHINGTON (July 10, 2020)—Construction input prices rose 2.2% in June, according to an Associated Builders and Contractors analysis of United States Bureau of Labor Statistics’ Producer Price Index data released today. Nonresidential construction input prices rose by 2.3% for the month.

WASHINGTONAssociated Builders and Contractors announced the cancellation of ABC Convention 2020, which was scheduled for August 17-19 in Nashville, Tennessee. The event, which includes the National Craft Championships, Construction Management Competition and National Excellence in Construction Awards, was previously postponed from March due to the coronavirus pandemic. 

Construction spending declined for the third month in a row in May as a sharp slowdown in private projects more than offset a rise in public work, according to an analysis by the Associated General Contractors of America of government data released. Association officials warned that the pickup in public projects is likely to reverse soon unless the federal government acts quickly to invest in needed infrastructure and shore up crumbling state and local budgets.

NATIONAL—President Trump and his administration are working on an infrastructure proposal worth almost $1 trillion aimed at giving the volatile United States economy a much-needed boost. 

The existing infrastructure plan—the FAST Act—which authorized $305 billion over a 5-year term, will expire at the end of September.

LOS ANGELES (June 15, 2020) AECOM announced the appointment of W. Troy Rudd to chief executive officer (CEO). Currently AECOM’s chief financial officer, Rudd will assume the role from Michael S. Burke, who previously announced his plans to retire.

New home construction in the United States showed a positive return in May—good news after several months of decreasing numbers due in part to the coronavirus pandemic. 

In particular, a rebound in permits for future home construction (up 14.4%) showed promise that the industry might be coming out of a slump. The statistic is often an indicator of future activity and the overall health of the economy.

New York City launched phase one of its reopening plan this week, including the restart of all construction projects deemed nonessential. City officials estimate this applies to approximately 23,000 construction sites.

The news is long awaited for many construction executives and management teams—since March, the only construction projects allowed to continue on schedule were those deemed essential (health care, infrastructure updates, etc.).