Key Takeaways

• National nonresidential construction spending increased by 0.3% in January.
• On a seasonally adjusted annualized basis, nonresidential spending totaled $968.7 billion for the month.
• "On a year-over-year basis, spending in the nonresidential sector continues to outpace inflation.

One in five firms have current international projects, or have had one in the last five years

While architecture firm billings declined for the fourth consecutive month in January, the pace of the decline continued to slow. The ABI score of 49.3 for the month indicates that fewer firms reported softening conditions this month than in December. In addition, inquiries into new projects and the value of new design contracts both strengthened in January, as firms reported an uptick of interest in new projects.

Original article written by Ezra Klein on NYTimes.com

Original article on constructionexec.com

How Contractors Can Cash in on the 179D Energy Efficiency Tax Deduction

According to data released today by the US Bureau of Labor Statistics, the national construction industry added 25,000 jobs on net in January.

Key Takeaways

Key Takeaways

• National nonresidential construction spending decreased by 0.5% in December.
• On a seasonally adjusted annualized basis, nonresidential spending totaled $943.5 billion for the month.
• "Despite the decline, nonresidential spending is up 13.8% year over year, an increase outpacing both overall inflation

Original article on constructionexec.com

According to data released today by the US Bureau of Labor Statistics, the national construction industry added 28,000 jobs on net in December.

Key Takeaways

Key Takeaways

• National nonresidential construction spending increased 1% in November.
• On a seasonally adjusted annualized basis, nonresidential spending totaled $930.1 billion for the month.
• “The average nonresidential contractor starts 2023 with considerable backlog.

ENR has released their 2023 market forecast:

2023 Economic Forecast: Markets Are Mixed for Year Ahead

Inflation, rising interest rates and a possible global recession continue to top the list of forecasters’ concerns for the coming year.