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Nonresidential construction input prices also increased 1.5% for the month, but are up just 0.2% from a year ago, according to ABC.
Search Results for: Associated Builders and Contractors – Page 2
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Backlog decreased on a monthly basis for all categories of company size except for those with more than $100M in annual revenue.
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The South remains the region with the highest backlog, despite being the only region in which backlog declined in June.
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Nonresidential construction employment rose by 12,200 positions on net, with positive growth in 2 of the 3 subcategories.
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While overall construction spending rose, nonresidential construction spending decreased for the fist time in nearly a year.
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Overall May construction input prices were 3.7% lower than a year earlier.
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Non-farm payrolls rose by 253,000 jobs last month, including 15,000 in the construction industry, according to ABC.
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On a seasonally adjusted annualized basis, nonresidential spending totaled $997.1 billion for the month, according to ABC.
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The construction industry had 341,000 job openings in March, according to an Associated Builders and Contractors analysis of federal data.
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While overall construction input prices rose slightly from February, they were 0.9% lower than in March 2022.
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