Construction Economics

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The increase follows eight consecutive months during which construction input prices fell.

During the first five months of 2016, total construction starts on an unadjusted basis were $256.7 billion, down 12% from the same period a year ago.

Despite the large monthly gain in overall prices, crude petroleum prices are still down 26% from March 2015.

Construction industry confidence remains high despite stock market jitters.

Total construction starts in January were reported at $40.6 billion, down 14% from the same month a year ago,

For the year 2015, national employment in construction increased by 273,000 jobs.

Despite a weak global economy, the industry’s solid economic recovery in 2015 should continue in 2016, led by strong consumer spending, ABC says.

ENR’s 20-city average cost indexes, wages and materials prices. Historical data and details for ENR’s 20 cities can be found at ENR.com/economics