Every two weeks, we prepare a report focused on understanding market intelligence and analyzing construction industry data and trends.
This in-depth report is developed primarily for internal distribution, but because we want to keep construction professionals like you informed about the industry, we make this report available to anyone who's interested in reading it.
What's New In This Report?
Highlights
The ABI for November 2019 rose to 51.9 points, above 50 (neutral mark), with the South region and the Commercial/Industrial sector in the lead.
The annualized value of Construction Put-in-Place was $1.32T in November 2019, 4.1% up from its year-ago activity.
Construction Update
In November 2019, housing permits reflected an annual rate of 1.48M, 11.1% above their year-ago rate with annual increases in both Single-family and Multi-family permits.
Housing starts in November 2019 were 13.6% above their year-ago rate with 1.37M starts, with annual increases in both Single-family and Multi-family starts.
719K new Single-family homes were sold in November 2019, 17% above the year-ago rate.
Economic Update
In November 2019, the unemployment rate decreased to 3.5% after adding 266K jobs, however, the Construction Industry's job growth slowed in the month.
Out of the large MSAs (1M+ population), 36 of 51 showed year-over-year unemployment rate decreases in November 2019 with Logan, UT-ID and Ames, IA, having the lowest unemployment rate of 1.5% and 1.6%, respectively.
