Every two weeks, Oldcastle Building Solutions Business Intelligence prepares a report focused on understanding and analyzing construction market data and trends.
This in-depth report is developed primarily for internal distribution, but Oldcastle Building Solutions exists to inform construction professionals like you, so we're making this report available for anyone who's interested in reading it.
What's New In This Report?
Highlights
The ABC Construction Confidence Index reports that the majority of Non Residential contractors are confident about sales growth, profit, and staffing levels heading into 2018.
The Dodge Momentum Index (DMI) expanded further in November 2017 to 149.5 (a 13.9% increase); the commercial and institutional building components also rose by 19.6% and 5.5%, respectively.
Construction Update
The annualized value of Construction Put-in-Place was $1.24T in October 2017, 2.9% above year ago activity.
The Construction Cost Index (CCI) indicated annual construction input cost escalations were +3.3% in 2017. This rate is less than previous projections due to recent flatness in the labor components.
Economic Update
In November 2017, the unemployment rate held steady at 4.1% after adding 228K jobs. The Construction industry added 24K jobs in the month, after adding 11K in October 2017.
47 of 51 large MSAs (1M+ population) showed year-over-year unemployment rate decreases in October 2017. Minneapolis and Nashville reported the lowest unemployment rates, each at 2.3%.
