News – Page 41 – Central Electric Inspection Bureau

Nonresidential Construction Spending Falls Slightly in March, Says ABC

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

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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.

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:

New OSHA COVID-19 Recordability Guidance Provides Necessary Clarification for Contractors, Says ABC

13Apr

by Rachel O'Grady

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WASHINGTON, April 13—Associated Builders and Contractors Vice President of Health, Safety, Environment and Workforce Development Greg Sizemore today issued the following statement on the release of Occupational Safety and Health Administration’s April 10 guidance on recording cases of COVID-19:

Monthly Construction Input Prices Drop in March, Says ABC

09Apr

by Rachel O'Grady

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WASHINGTON, April 9—Construction input prices fell 1.0% in March from the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data released today. The aggregate price of inputs to construction is down 1.9% compared to the same time last year. Nonresidential construction input prices fell 1.1% for the month and 2.0% during the past year.