News – Page 41 – Central Electric Inspection Bureau

ABC’s Construction Backlog Indicator Falls in April; Contractor Confidence Rebounds from Historic Lows

by Rachel O'Grady

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WASHINGTON, May 12—Associated Builders and Contractors reported today that its Construction Backlog Indicator fell to 7.8 months in April, the series’ lowest reading since the third quarter of 2012. Based on an ABC member survey conducted April 20-May 4, the results indicate that confidence among U.S. construction industry leaders inched higher last month compared to the historically low levels observed in the March survey.

Nonresidential Construction Employment Sees Record Loss in April, Says ABC

08May

by Rachel O'Grady

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WASHINGTON, May 8—The construction industry lost 975,000 jobs on net in April, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics. This was the largest recorded decrease in construction jobs since the government began tracking employment in 1939, despite construction remaining an essential industry in much of the nation through April.

Nonresidential Construction Spending Falls Slightly in March, Says ABC

01May

by Rachel O'Grady

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WASHINGTON, May 1—National nonresidential construction spending fell 0.1% in March and is up 2.0% compared to the same time last year, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled $802.6 billion for the month.

U.S. Economy Fell 4.8% in 1st Quarter of 2020 Due to COVID-19, Says ABC

29Apr

by Rachel O'Grady

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WASHINGTON, April 29—The U.S. economy contracted at an annualized 4.8% rate during the first quarter of 2020 as a result of the ongoing global pandemic, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Economic Analysis. The decline in GDP is largely a reflection of the final three weeks of March, which devastated the economy.

U.S. Economy Falls 4.8% in 1st Quarter of 2020 Due to COVID-19, Says ABC

29Apr

by Rachel O'Grady

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WASHINGTON, April 29—The U.S. economy contracted at an annualized 4.8% rate during the first quarter of 2020 as a result of the ongoing global pandemic, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Economic Analysis. The decline in GDP is largely a reflection of the final three weeks of March, which devastated the economy.

Additional PPP Loan Funding a Vital Lifeline for Construction Industry, Says ABC

24Apr

by Rachel O'Grady

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WASHINGTON, April 24—Associated Builders and Contractors Vice President of Legislative and Political Affairs Kristen Swearingen today issued the following statement on the signing of the Paycheck Protection Program and Health Care Enhancement Act, which provides additional funding for the Paycheck Protection Program:

Construction Contractor Confidence Plummets in Response to COVID-19, Says ABC

23Apr

by Rachel O'Grady

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WASHINGTON, April 23—Confidence among U.S. construction industry leaders plummeted in February due to expectations of the economic fallout associated with COVID-19, according to the Associated Builders and Contractors Construction Confidence Index released today. Readings for sales, profit margins and staffing levels expectations fell below the threshold of 50 for the first time in the history of the series, signaling expected contraction along all three dimensions. This survey was conducted March 20-31.

Construction Contractor Confidence Plummets in February, Says ABC

23Apr

by Rachel O'Grady

0

WASHINGTON, April 23—Confidence among U.S. construction industry leaders plummeted in February due to expectations of the economic fallout associated with COVID-19, according to the Associated Builders and Contractors Construction Confidence Index released today. Readings for sales, profit margins and staffing levels expectations fell below the threshold of 50 for the first time in the history of the series, signaling expected contraction along all three dimensions.

ABC’s Construction Backlog Indicator Down in February

21Apr

by Rachel O'Grady

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WASHINGTON, April 21—Associated Builders and Contractors reported today that its Construction Backlog Indicator fell to 8.2 months in February, a 7.7% decrease from January’s reading. Backlog for firms working in the infrastructure segment rose by 1.3 months in February while backlog for commercial and institutional and heavy industrial firms declined by 0.6 months and 0.7 months, respectively.

ABC Helps to Author Strategy for Safe, Strong Recovery as Part of Great American Economic Revival Industry Groups

15Apr

by Rachel O'Grady

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WASHINGTON, April 15—Associated Builders and Contractors President and Chief Executive Officer Michael D. Bellaman today issued the following statement regarding the Great American Economic Revival Industry Groups: