Tag Archive for 'construction'

ABC Reports: Construction Materials Prices Up 0.5 Percent in March

CEU2“Despite the increase in materials prices, this report does not signal a period of much higher inflation.” —ABC Chief Economist Anirban Basu.

PPI_4 11 14Construction materials prices expanded 0.5 percent in March and are up 1.1 percent from March of last year, according to the U.S. Department of Labor’s April 11 producer price index release. Nonresidential construction materials prices are up 0.4 percent for the month and are 1 percent higher than the same time one year ago.

“Despite the increase in materials prices, this report does not signal a period of much higher inflation,” said Associated Builders and Contractors Chief Economist Anirban Basu. “While it is true that there were significant increases in overall monthly inflation for both the broader economy and for construction, only a handful of categories were actually associated with a meaningful uptick in prices.”

Overall, the nation’s wholesale goods prices fell 0.1 percent in March but are up 1.7 percent year over year. Crude energy materials prices fell 6.8 percent in March but are still 13.6 percent higher than one year ago, and have expanded by 34.1 percent through the first three months of 2014.

“With respect to the broader economy, much of the inflation was related to food, which likely is a result of meteorological impacts,” said Basu. “With respect to construction, only three of 11 categories actually experienced increasing prices for the month. Given modest projections for both global and national economic growth, it is unlikely that significant inflationary pressures will be experienced during the month ahead with respect to most construction materials prices.”

The following materials prices increased in March.

Nonferrous wire and cable prices gained 0.1 percent in March but are down 2.7 percent from one year ago.

Concrete products prices expanded 0.3 percent in March and are up 3.9 percent from one year ago.

Prices for prepared asphalt, tar roofing, and siding expanded by 1.1 percent for the month and are up 0.1 percent from one year ago.

Eight of the 11 key construction inputs did not experience price increases for the month.

Iron and steel prices fell 1.7 percent in March but are up 1.3 percent from the same time last year.

Natural gas prices fell 10.9 percent in March but are 48.5 percent higher than one year ago.

Crude energy prices fell 6.8 percent in March but are 13.6 percent higher than one year ago.

Steel mill products prices shed 1.1 percent for the month but are 1.4 percent higher than one year ago.

Crude petroleum prices fell 6.4 percent in March but are up 3.9 percent from March 2013.

Prices for plumbing fixtures shed 0.8 percent for the month but are up 1.9 percent from the same time last year.

Fabricated structural metal product prices are down 0.2 percent for the month but have risen 0.5 percent from one year ago.

Softwood lumber prices fell 0.8 percent in March and are 2.1 percent lower than one year ago.

To view the previous PPI report, click HERE

ABC Reports: Jobs Report Meets Expectations In March

CEU2“The 6,700 nonresidential construction jobs added in March demonstrate the growth we expect in the second quarter of 2014.” —ABC Chief Economist Anirban Basu.

Employment_4 4The U.S. construction industry gained 19,000 jobs in March and the construction unemployment rate fell to 11.3 percent (non-seasonally adjusted), according to the April 4 employment report by the U.S. Department of Labor (DOL). Nonresidential construction segments added 6,700 jobs in March, a marked improvement from the 2,800 jobs (revised) added in February. The improvement led the construction unemployment rate to fall from 12.8 percent in February 2014 and 14.7 percent in March 2013.

The residential sector continued to build momentum, adding 9,100 jobs for the month. Heavy and civil engineering added 3,200 jobs in March and has added 22,100 jobs in the past 12 months.

“The 6,700 nonresidential construction jobs added in March demonstrate the growth we expect in the second quarter of 2014,” said Associated Builders and Contractors Chief Economist Anirban Basu. “The colder than normal winter has been particularly cruel to the construction industry, and its departure should bring accelerated job growth.

“While it is promising to see the construction unemployment rate shed more than a full percent in March, it remains well above pre-recession levels,” said Basu. “As spring finally settles in, the construction unemployment rate should return to the levels experienced in the third and fourth quarters of 2013 (approximately 9 percent).”

According to the Bureau of Labor Statistics’ household survey, the national unemployment rate remained unchanged in March at 6.7 percent as the country added a total of 192,000 jobs. January and February’s jobs reports also were revised upward by a combined 37,000 jobs.

“Although the unemployment rate remained unchanged in March, the labor force (those either employed or seeking employment) increased by 1.5 million in the first quarter of 2014 after falling by 500,000 in 2013,” said Basu. “Gains to the labor force will, at least in the short term, apply upward pressure on the unemployment rate. That said, given the number of jobs created, upward revisions to prior months and expansion of the average workweek, today’s jobs report should not be viewed as disappointing.”

Nonresidential building construction employment grew by 2,200 jobs for the month and is up by 14,000 jobs (2.1 percent) since March 2013.

Residential building construction employment rose by 3,100 jobs in March and is up by 547,800 jobs (7.9 percent) since March 2013.

Nonresidential specialty trade contractors gained 4,500 jobs for the month and employment in that category is up by 12,700 jobs (0.6 percent) compared to the same time last year.

Residential specialty trade contractors gained 6,000 jobs in March and have added 55,200 jobs (3.6 percent) since March 2013.

The heavy and civil engineering construction segment gained 3,200 jobs in March and job totals are up by 22,100 (2.5 percent) compared to the same time last year.

To view the previous Employment report, click here

CONEXPO-CON/AGG continues momentum with 2017 dates, chair announced 
Richard Goldsbury of Bobcat/Doosan Infracore leads industry managing committee for 2017 exposition

The next CONEXPO-CON/AGG international exposition will be held March 7-11, 2017 at the Las Vegas Convention Center in Las Vegas, USA.

Named CONEXPO-CON/AGG 2017 chair is Richard M. Goldsbury, President Bobcat/Doosan North America & Australia/Oceania for Doosan Infracore Construction Equipment, West Fargo, North Dakota. He will lead the triennial show’s management committee, a group of volunteer manufacturers and other industry stakeholders who oversee show planning to ensure the event meets industry needs.

CONEXPO-CON/AGG is the Western Hemisphere’s global gathering place in North America every three years for the construction and construction materials industry, co-located with the IFPE exposition for fluid power/power transmission/motion control. The recently held 2014 CONEXPO-CON/AGG and IFPE saw record exhibit and education numbers and nearly 130,000 registered attendees, including 24-percent international.

“2017 will definitely build on the momentum of 2014, and we are already in analysis and planning mode just weeks after such a successful event. Our focus is to amplify our efforts to deliver an outstanding quality show experience for our visitors, plus expand our exhibitor engagement outreach that results in improved exhibitor ROI,”  stated Goldsbury.

Rich Goldsbury is President of Bobcat Company and the Doosan heavy equipment division in North America, Australia, New Zealand and other Oceania countries and territories, responsible for all operations in these regions. He returned to the Bobcat organization in 2008, serving as President, Bobcat Americas, and was promoted to his current position in July 2010.

Previously, Goldsbury served as President for global product and business strategy with the Security Technologies Sector of Ingersoll Rand. He had been part of the Security sector since 2006 and also served as President of Schlage Security Products. He has been part of the industrial and construction equipment industry for almost 30 years, with extensive global experience in general management, marketing, operations, finance, engineering, product portfolio management, aftermarket and mergers and acquisitions.

Goldsbury is a Director for the Greater Fargo/Moorhead Economic Development Corporation. His leadership involvement with the Association of Equipment Manufacturers (AEM), a show owner and show producer, is extensive and includes currently serving on the AEM Board of Directors and as 2014 chair of its Government and Public Affairs Committee, and he has served as a director on the AEM CE Sector Board.

For the latest details on attending or exhibiting at CONEXPO-CON/AGG, go online to www.conexpoconagg.com

ABC Reports:Nonresidential Construction Spending Inches Higher

CEU2“The conventional wisdom is that this year’s winter weather has suppressed spending and that will make the spring recovery even stronger than it would have been, as pent up supply is released.” —ABC Chief Economist Anirban Basu.

spending_4 1The U.S. Census Bureau announced today that nonresidential construction spending increased 0.6 percent in February and has risen 6.1 percent since February 2013. The gains follow nonresidential construction spending declines in both January and December. Spending for the month totaled $580.5 billion on a seasonally adjusted, annualized basis.

“February’s construction spending data is difficult to interpret, as was the case in December and January, because of the lengthy and harsh winter,” said Associated Builders and Contractors Chief Economist Anirban Basu. “The conventional wisdom is that this year’s winter weather has suppressed spending and that will make the spring recovery even stronger than it would have been, as pent up supply is released. However, the level of recovery in construction spending has not been enough to significantly improve pricing power and profit margins.

“In addition, based on ABC’s analysis of the Bureau of Labor Statistics Job Opening and Labor Turnover Survey (JOLTS), skills shortages impacting construction are becoming more commonplace, which also will place downward pressure on margins,” Basu said.

Spending rose in eight of the 16 nonresidential construction subsectors in February:

Communication construction spending increased 7.2 percent in February and is up 52 percent from the same time last year.

Highway and street-related construction spending expanded 1.3 percent in February and is up 11.4 percent compared to the same time last year.

Amusement and recreation-related construction spending increased 1.7 percent in February and is up 3.1 percent from the same time last year.

Lodging construction spending rose 2.9 percent in February and is 37 percent higher than the same time last year.

Health care-related construction spending increased 0.4 percent but is down 4.3 percent from the same time last year.

Office-related construction spending expanded 0.2 percent in February and is 12.9 percent higher than the same time last year.

Conservation and development-related construction spending rose 5.3 percent in February and is up 3.1 percent from the same time last year.

Power construction spending increased 4.7 percent for the month and is 11.4 percent higher than the same time last year.

Spending in eight nonresidential construction subsectors decreased in February:

Religious spending fell 7.3 percent for the month and is down 22.6 percent from the same time last year.

Education-related construction spending fell 1.1 percent for the month and is 22.6 percent lower than the same time last year.

Commercial construction spending fell 0.3 percent in February but is up 12.4 percent compared to the same time last year.

Public safety-related construction spending fell 7 percent in February and has declined 10.5 percent since the same time last year.

Sewage and waste disposal-related construction spending declined 1.9 percent for the month and is 5 percent lower than the same time last year.

Construction spending in the transportation category fell 1.2 percent in February but has increased 5.1 percent since the same time last year.

Spending in the water supply category was down 10 percent on the month and is 18.1 percent lower compared to the same time last year.

Manufacturing-related construction spending decreased 0.1 percent in February but is up 16.7 from the same time last year.

To view the previous spending report, click here

Terex Donates Conexpo-Con/Agg I Make America Artwork To The Association Of Equipment Manufacturers

Finished Terex FingerSmear Artwork 2er

Millions of Americans work hard every day to build the equipment, roads, bridges, public transport systems and port facilities that fuel America’s powerful economic engine. During the five days of CONEXPO-CON/AGG 2014 in Las Vegas, Nev., more than 1,300 of those same people visited the Terex exhibit in the show’s gold lot to contribute to the manufacturer’s I Make America artwork.

Ron DeFeo & Dennis Slater at CanvasTerex team members and show attendees alike dipped their fingers into paint and left their mark, as well as their signature, on a canvas that included an outline of the United States, famous infrastructure landmarks, the equipment that helps to build America’s infrastructure and the I Make America logo. After the show, FingerSmear™ Artist, Kelly Sullivan, put the finishing touches to the masterpiece, and Terex donated it to Association of Equipment Manufacturers (AEM) representatives.

“Terex is among the top supporters of AEM’s I Make America campaign, and for many years we have championed the critical need for more investment in America’s infrastructure,” says Ron DeFeo, Chairman and CEO of Terex Corporation. “What better metaphor to show how vital everyone’s role is in building America’s infrastructure than to create a work of art that includes the imprint of more than a thousand participants. We are proud to donate this to AEM and the I Make America campaign.”

Commenting on the generous donation by Terex, Dennis Slater, president of AEM, said, “This original Kelly Sullivan FingerSmear painting, sponsored by Terex in their exhibit at CONEXPO-CON/AGG, is a creative way to help educate the industry and the public about the mission of I Make America. Our goal through I Make America is to engage AEM member companies, their employees and individuals who care about the manufacturing industry and the campaign’s positive impact on jobs and the economy in the U.S. We greatly appreciate Terex for going above and beyond to promote and support that mission.”

AEM intends to use the donated artwork to drive interest and encourage others to support pro-manufacturing causes. The painting will be on display at many venues in the weeks and months to come. Both AEM and Terex are currently finalizing a plan to enable as many people as possible to see the artwork, helping carry its message to a broad audience of industry influencers.

About Terex

Terex Corporation is a global manufacturer of a diverse range of equipment designed to deliver reliable, customer-focused solutions for many applications, including those for the construction, infrastructure, extraction, mining, shipping, transportation, refining, public service and industrial segments.  Terex has five business divisions: Aerial Work Platforms; Construction; Cranes; Material Handling & Port Solutions, and Materials Processing. Terex offers financial products and services to assist in equipment acquisition through Terex Financial Services.  For more information, go to: www.terex.com.

 

About I Make America – www.imakeamerica.com
I Make America is supported by the Association of Equipment Manufacturers (AEM) and its more than 900 member companies and employees. We are joined by the memberships of like-minded associations, American business owners, and citizens and elected officials across the nation. To learn more about I Make America, visit us at www.IMakeAmerica.com. Keep up to date on the latest I Make America campaign news on Twitter @IMakeAmerica and on Facebook at www.Facebook.com/IMakeAmerica.