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Backlog is down in every region except for the South, which continues to see elevated levels of current and future construction activity.
Search Results for: Associated Builders and Contractors – Page 3
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On a year-over-year basis, industry employment has grown by 196,000 jobs, an increase of 2.5%, according to a recent report.
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Private nonresidential spending was up 0.7%, while public nonresidential construction spending was down 0.2% in February.
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Overall construction input prices are 2.6% higher than a year ago, reports Associated Builders and Contractors.
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Backlog continues to hover around highs not seen since the beginning of the COVID-19 pandemic.
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Spending, however, was down on a monthly basis in seven of the 16 nonresidential subcategories, according to an ABC analysis.
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Despite the decline in January, backlog remains elevated by historical standards and is 0.1 months higher than in February 2020.
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Construction job openings also increased by 82,000 in December, according to an Associated Builders and Contractors analysis.
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Overall, construction input prices are 7.9% higher than a year ago, while nonresidential construction input prices are 7.6% higher, ABC said.
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Construction input prices fell 0.9% in November but remain 40% ahead of February 2020 pre-pandemic levels.
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