Ken Simonson

3 weeks ago | constructioncitizen.com | Ken Simonson

President Trump on Thursday announced a trade agreement with the United Kingdom that would remove the 25% tariff on steel and aluminum from the U.K., the first sign of tariff relief for construction inputs. The U.K. accounted for roughly 1% of U.S. steel imports (0.3% of consumption) in 2024 and a negligible share of aluminum. It remains to be seen if the agreement will lead to greater imports from the U.K. or a reduction in steel and aluminum tariffs for other countries.

1 month ago | constructioncitizen.com | Ken Simonson

Construction employment, seasonally adjusted, totaled 8,316,000 in April, a gain of 11,000 from March and 143,000 (1.7%) year-over-year (y/y), according to AGC’s analysis of data BLS posted today. Residential construction employment (at residential building and specialty contractors) grew only slightly, rising by 3,400 in April and 5,000 (0.1%) y/y, a considerable decline from the 63,600 jobs (1.9%) added 12 months earlier.

1 month ago | constructioncitizen.com | Ken Simonson

Total construction starts rose 3% from February to March at a seasonally adjusted annual rate, Dodge Construction Network reported on Monday. Nonresidential building starts grew 6%, residential starts declined 5%, and nonbuilding starts increased 9%. On a year-to-date basis through March, total starts were down 1% from the first three months of 2024. Nonresidential starts were down 9%, residential starts were down 5%, and nonbuilding starts were up by 16%.

1 month ago | constructioncitizen.com | Ken Simonson

Input prices for new nonresidential construction rose 0.4% March, not seasonally adjusted, following upwardly revised gains of 0.6% in February and 0.8% in January, according producer price index (PPI) data the Bureau of Labor Statistics posted today. The three-month change totaled 1.9% (an annualized rate of 7.9%), the most since March 2023. Outsized one-month increases occurred in the PPIs for steel mill products, 7.1%; aluminum mill shapes, 5.1%; and lumber and plywood, 2.7 %.

2 months ago | mycnr.com | Ken Simonson

|Image courtesy of AGC of AmericaBy KEN SIMONSONConstruction employment, seasonally adjusted, totaled 8.313 million in March, a gain of 13,000 from February and 143,000 (1.8 percent) year-over-year (y/y), according to AGC’s analysis of data BLS. The y/y growth slowed from 239,000 (3 percent) a year ago.