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?
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HighlightsThe second estimate for real GDP for Q1 2017 was 1.2%; after 2.1% growth in Q4 May 2017 Engineering & Construction Cost Index dipped to 54, but above neutral |
Construction UpdateU.S. Construction Put-in-Place up 6.7% annually to $1.22T in April 2017 Dodge Momentum Index (DMI) rebounded 4.0% in May 2017 |
Economic UpdateEmployment situation remained tight with 4.3% unemployment and 138K additions 39 of 51 large MSAs show 12-month unemployment decreases |
Key Takeaways
- The second estimate of real GDP growth for Q1 2017 was 1.2%, an improvement on the 0.7% first estimate
- In May 2017, the current pricing component score of the Engineering & Construction Cost Index (ECCI) lost momentum dipping to 54; the score above the neutral mark (50) indicates that construction costs are on the rise
- Construction Put-in-Place was $1.22T in April 2017, 6.7% above year ago activity
- The Dodge Momentum Index (DMI) rebounded 4.0% in May 2017 to 139.1; both the commercial and institutional building components made gains in the month
- In May 2017 the employment situation remained tight, the unemployment rate, though little changed, declined to 4.3% with 138K non-farm jobs added
- 39 of the 51 large MSAs (1M+ population) showed year-over-year unemployment rate decreases in April 2017, with Denver having the lowest rate of 2.1%
