Click here to view March PPI tables.
The producer price index (PPI) for finished goods jumped 1.3%, not seasonally adjusted (0.7%, seasonally adjusted), in March and 5.8% over the past 12 months, the Bureau of Labor Statistics (BLS) reported on Thursday. The PPI for inputs to construction—a weighted average of the prices of all materials used in construction plus items consumed by contractors, such as diesel fuel—leaped 2.0%, not seasonally adjusted, for the month and 6.9% over 12 months.
Nonfarm payroll employment increased in 284 out of 372 metro areas (76%) between February 2010 and February 2011, decreased in 77 (21%) and remained flat in 11, the Bureau of Labor Statistics (BLS) reported on Wednesday.
Economists Lynn Reaser and Ken Simonson presented a partly sunny forecast at the Aon Economic Issues luncheon on Thursday, March 24. But the scene they painted had plenty of clouds, as well.
View Â鶹ÊÓƵ Chief Economist Ken Simonson’s presentation on the outlook for construction activity, materials and labor.
Construction spending tumbled 1.4% in February to $761 billion at a seasonally adjusted annual rate, the lowest total since 1999 and 6.8% percent below the February 2010 level, the Census Bureau reported on Friday. The slump was accentuated by downward revisions for January (from $792 billion to $771 billion) and December (from $798 billion to $785 billion).
Seasonally adjusted nonfarm payroll employment increased in February in 35 states, decreased in 14 states and the District of Columbia, and was unchanged in Hawaii, the Bureau of Labor Statistics (BLS) reported on Friday.
Financial pressures on contractors grew worse in February as prices for key construction materials rose sharply even as prices construction firms charge for completed projects remained stagnant, according to an analysis of producer price index figures released Wednesday by Â鶹ÊÓƵ.
Seasonally adjusted nonfarm payroll employment increased in January in 35 states and the District of Columbia and decreased in 15 states, the Bureau of Labor Statistics (BLS) reported on Thursday. Compared with January 2010, employment rose in 42 states and D.C. and declined in eight states.
Associated General Contractors Chief Economist Ken Simonson, American Institute of Architects Chief Economist Kermit Baker, and Reed Construction Data Chief Economist Jim Haughey discussed "Construction: Time to Spring Forward?" in a webinar on March 3. The economic experts examined the current market conditions and detailed the US construction outlook for 2011. To view an archive of the presentation click here.
Construction spending in January totaled $792 billion at a seasonally adjusted annual rate, the Census Bureau reported today, down 0.7% from the upwardly revised December total of $798 billion (originally estimated as $788 billion), down 5.9% from the January 2010 level and the second-lowest mark since July 2000.