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 second estimate of real GDP growth for Q2 2018 was 4.2%, a steep increase from the previous quarter and previous year values.
The ABI remained above 50 (neutral) in July 2018 at 50.7 points. Few of the regions and sectors remained above 50, with South and Residential Sector in the lead.
Construction Update
627K new Single Family homes were sold in July 2018, 12.8% above its the year-ago rate.
The Engineering & Construction Cost Index (ECCI) in August 2018 showed a slight decrease in current pricing with a score of 58.9. The expectation for higher prices in 6 months also decreased marginally.
Economic Update
44 of 51 large MSAs (1M+ population) showed year-over-year unemployment rate decreases in July 2018 with Ames, IA showing the lowest unemployment of 1.8%.
The Construction Cost Index (CCI) and Building Cost Index (BCI) in August 2018 both showed increases in current pricing with an annual growth of 2.6% and 3.4%, respectively.
