Recent construction employment numbers show a continuation of a five-year slump for the industry. Employment decreased in 153 of 337 metropolitan areas between March 2010 and March 2011, increased in 138 and stayed level in 46, according to an analysis of federal data (PDF) by the Associated General Contractors of America. AGC officials warn that the numbers could worsen as public projects dwindle. We'd love to be wrong, AGC of America spokesman Brian Turmail said, "but nothing indicates that the demand for construction is increasing.
Construction costs increased in July as contractors paid more for materials and were able to charge more for their services, according to an analysis of producer price index figures released today by the Associated General Contractors of America. While the change was good news for the construction industry, analysts wonder how long the trend will last, according to the AGC. Industry experts expect public sector investment to shrink in coming months as government bodies cut spending and freeze plans for capital improvements.
The Government has formed a committee to organize Provincial elections. That's important. If you want people buying into government, there needs to be Provincial elections, so that when the money is distributed from the central government, there's a representative government there to spend the money. Leaders have taken initial steps toward an agreement on de-Ba'athification policy. That's an important piece of reconciliation that we think ought to go forward.
Spending from the Federal government's stimulus program is helping the construction industry, albeit slower than many expected. That's according to Ken Simonson, chief economist of the Associated General Contractors of America. Simonson spoke Thursday during an industrywide conference call hosted by Reed Construction Data, an industry information company. He said construction spending has been tailing off since 2006 and is down 10 percent from early 2006.
Despite $135 billion worth of federal stimulus money being plowed into the U.S. economy, Stephen Sandherr considers 2009 to have been a "simply devastating" year for the nation's construction industry. So what does the CEO of Associated General Contractors of America expect 2010 to hold for builders? Unfortunately for the industry and the economy, this year's construction outlook is far from positive," Sandherr said during a Wednesday teleconference call that focused on AGC's industry forecast for 2010.
Construction contractors are being squeezed by rising materials costs and disappearing profit margins, the Associated General Contractors of America said today. The Arlington, Va.-based trade group said the latest producer price index figures signal the need for speedy investments in infrastructure construction while prices are still relatively low.
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