The Dodge Momentum Index rose in October, climbing to 125.5 (2000=100) for the month, up 7.6% from September’s reading of 116.6, according to Dodge Data & Analytics. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. The Momentum Index had declined in each of the previous three months, and the increase in October returns the index to the rising trend seen during the first half of this year.The Momentum Index now stands 18% above last year,
The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25) showed that overall new business volume for September was $9.4 billion, up 21% from new business volume in September 2013. Month over month, new business volume was up 31% from August. Year to date, cumulative new business volume increased 8% compared to 2013. The index reports economic activity from 25 companies representing a cross section of the $827-billion equipment finance sector.Receivables over 30 days decreased from the previous month to 1.0% and were up slightly from .09% in the same period in 2013. Charge-offs were unchanged for the sixth
The Conference Board Consumer Confidence Index, which had decreased in September, rebounded in October. The index now stands at 94.5 (1985=100), up from 89.0 in September. The Present Situation Index edged up from 93.0 to 93.7, while the Expectations Index increased sharply to 95.0 from 86.4 in September. Consumers’ appraisal of current conditions was moderately more favorable in October than in September. Their view of business conditions was mixed. While the proportion saying conditions are “good” inched up from 24.2% to 24.5%, those claiming business conditions are “bad” also increased slightly, from 21.2% to 21.7%.Consumers’ assessment of the job market
Nonresidential construction spending slipped 1% in September but has still managed to expand 4.2% on a year-over-year basis, according to the Nov. 1 release from the U.S. Census Bureau. Spending for the month totaled $596.1 billion on a seasonally adjusted, annualized basis while the government slightly revised the August spending figure from $603.7 billion to $601.9 billion. “September’s drop in nonresidential construction spending is disappointing, given the growing momentum in the broader economy and the generally positive signals being sent by industry-specific leading economic indicators,” said Associated Builders and Contractors Chief Economist Anirban Basu.“Based on a combination of these leading
Most construction firms report they are having trouble finding qualified craft workers to fill key spots as the industry recovers from its years-long downturn, according to the results of a new industry-wide survey recently released by the Associated General Contractors of America. Association officials called for new career and technical school programs, as well as other workforce measures to offset labor shortages. “As the survey results make clear, many construction firms across the country are having a hard time filling available positions,” said Ken Simonson, chief economist for the Associated General Contractors. “Considering how much the nation’s educational focus has
With all geographic regions and building project sectors showing positive conditions, there continues to be a heightened level of demand for design services, as signaled in the latest Architecture Billings Index (ABI). As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lead time between architecture billings and construction spending. The American Institute of Architects reported the September ABI score was 55.2, up from a mark of 53.0 in August. This score reflects an increase in design activity (any score above 50 indicates an increase in billings). The new projects inquiry index was 64.8,
Employment expansion in Colorado is expected to continue through the fourth quarter of 2014 and into the first quarter of 2015, according to a new report by the University of Colorado Boulder released Oct. 22 by Colorado Secretary of State Scott Gessler. The Quarterly Business and Economic Indicators Report is prepared by the Business Research Division at CU-Boulder’s Leeds School of Business using data from the secretary of state’s central business registry.During the third quarter, a total of 27,640 new businesses filed with the secretary of state’s office, marking the fastest growth in filings since at least 2006. The third-quarter
I’ve seen a surge in interest for business development training in the past year or two since the economic rebound. I believe this surge results primarily from two factors. • The financial reality that while most firms are still watching their overhead dollars like a hawk, there is more discretionary money available to fund training initiatives that were put on hold during the recession.• A reluctance by some firms to hire (or rehire) full-time business developers. Many were let go during the downturn, and some firms have never filled this role. In their place, many firms have doubled down on
In some cultures rather than asking someone they were just introduced to, “How are you?” people ask: “Have you eaten?” They figure that if you answer yes, you are relatively well and happy, but if you haven’t eaten, that needs to taken care of first. Sharing food is a social activity that’s connected to our basic need to survive. It is a common practice across all cultures and nations to share food, and it brings us together as families and friends. It gives us the opportunity to put down our smartphones and actually talk to each other. Unfortunately, this opportunity
Construction materials prices inched down 0.1% in September but rose 1.6% compared to the same time last year, according to the U.S. Dept. of Labor’s Oct. 15 Producer Price Index. Prices for inputs to construction industries have remained unchanged from June to August—the longest such period since the price index for construction inputs began in 1986. Inputs to nonresidential construction fell 0.2% for the month but were 1% higher than in September 2013. Crude energy materials prices declined 1% in September and are 7.9% lower than a year ago. Natural gas prices climbed 4% in September after decreasing in the
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