Welcome to our Construction Industry News page, where we bring you the latest updates on mergers and acquisitions, key new hires, and significant industry shifts. Stay informed with breaking news and in-depth reporting to keep up with the fast-paced changes shaping the construction business.
WASHINGTON (Sept. 12, 2023) — Associated Builders and Contractors (ABC) reported that its Construction Backlog Indicator declined to 9.2 months in August, down 0.1 month, according to an ABC member survey conducted from Aug. 21 to Sept. 6. The reading is 0.5 months above the August 2022 level.
View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for August.
HAMILTON, N.J. (Sept. 8, 2023) — The Dodge Momentum Index (DMI), issued by Dodge Construction Network, declined 6.5% in August to 178.0 (2000=100) from the revised July reading of 190.3. Over the month, the commercial component of the DMI fell 1.6%, while the institutional component fell 14.8%.
Vroozi, the intelligent procure-to-pay platform, has announced that Modern Niagara, a multi-trade contractor and building solutions company in Canada, will partner with Vroozi to simplify their procurement process while providing central procurement teams with complete control and visibility.
Sept. 7, 2023 — Mats Sköldberg has been appointed head of technology at Volvo CE. Most recently, he was head of technology for Volvo CE in China and has held a number of other senior technology roles in recent years.
Scott Young has been appointed Head of Sales Region North America. Most recently, Young was head of the Volvo CE Uptime Center of Expertise and has held a number of other roles in strategy, technology and other functions within Volvo CE.
Aug. 31, 2023 — Companies in North America sharply cut orders for robots in the second quarter, according to data compiled by the Association for Advancing Automation (A3), an industry group.
The slowdown in orders began at the end of last year, as rising interest rates and sagging economic growth curbed appetites for new robots, the group said.
PASADENA, Calif. (Sept. 5, 2023) — Bluebeam, a developer of solutions and services for architecture, engineering and construction professionals worldwide and brand subsidiary of Nemetschek Group, has added two new talents into its executive suite.
NOVI, MICH. (Sept. 1, 2023) — Hino Motors Manufacturing U.S.A. (HMM) Inc. has announced the appointment of Davey Jung to the position of president and CEO, and chairman of the board for HMM, effective Sept. 1, 2023. Jung succeeds Masamichi Mizukoshi, who retired from Hino.
WASHINGTON (Aug. 29, 2023) — The construction industry had 363,000 job openings on the last day of July, according to an Associated Builders and Contractors (ABC) analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS). JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting.
PHILADELPHIA (Aug. 23, 2023) — NEST, provider of integrated facilities management, has teamed up with leaders across the construction, retail and skilled trades industries to create the Skilled Trades Advisory Council (STAC). Aimed to combat the crisis facing skilled labor in the U.S.
HAMILTON, N.J. (Aug. 16, 2023) — Total construction starts rose 17% in July to a seasonally adjusted annual rate of $1.2 trillion, according to Dodge Construction Network. Nonbuilding starts drove the increase, rising 38%, due to the start of a singular large LNG facility. Residential starts rose 20%, while nonresidential building starts lost 6%.
NEW YORK (Aug. 10, 2023) — WINT Water Intelligence, a provider of water management and leak-prevention solutions for construction, commercial, residential and industrial applications, has completed a $35 million Series C funding round to drive continued growth and innovation in artificial (AI)- and Internet of Things (IoT)-based solutions for managing water and mitigating water damage throughout a
Birmingham, Ala. (Aug. 17, 2023) — Construction Business Owner Magazine and Digital Media (CBO), a prominent name in the construction industry for its insightful content and innovative approach, is proud to announce the appointment of Megan Beam as its new editor. With an extensive background in communications and content creation spanning over 15 years, Beam brings a wealth of expertise and experience to her role.
WASHINGTON (Aug. 14, 2023) — During the State of the Union address, President Joe Biden committed to ensuring construction materials used in federally funded infrastructure projects are made in America. Delivering on the president’s commitments, the Office of Management and Budget (OMB) has released final guidance to boost the use of American-made goods in infrastructure projects.
WASHINGTON (Aug. 15, 2023) — Associated Builders and Contractors (ABC) reported that its Construction Backlog Indicator increased to 9.3 months in July, according to an ABC member survey conducted July 20 to Aug. 4. The reading is up by 0.6 months since July 2022.
HAMILTON, N.J. (Aug. 7, 2023) — The Dodge Momentum Index (DMI), issued by Dodge Construction Network, declined 0.9% in July to 193.4 (2000=100) from the revised June reading of 195.1. Over the month, the commercial component of the DMI remained relatively flat, ticking down 0.2%, while the institutional component fell 1.9%.
Aug. 1, 2023 — Caterpillar Inc. said on Tuesday that strong demand for heavy machinery from construction and mining industries was expected to drive full-year operating margin near the top end of its prior forecast, sending its shares to a record high.
The company, seen as a proxy for global economic activity, also reported better-than-expected second-quarter earnings, as sales rose across all of its main businesses.
HAMILTON, N.J. (July 21, 2023) — Total construction starts fell 9% in June to a seasonally adjusted annual rate of $1 trillion, according to Dodge Construction Network. Nonresidential starts led the downturn, falling 14%. Nonbuilding starts fell 9%, and residential starts lost 4%.
WASHINGTON (July 13, 2023) — Construction input prices remained unchanged in June compared to the previous month, according to an Associated Builders and Contractors (ABC) analysis of U.S. Bureau of Labor Statistics Producer Price Index data released today. Nonresidential construction input prices were also unchanged for the month.
HAMILTON, N.J. (July 11, 2023) — The Dodge Momentum Index (DMI), issued by Dodge Construction Network, declined 2.5% in June to 197.3 (2000=100) from the revised May reading of 202.4. Over the month, the commercial component of the DMI rose 3.1%, while the institutional component sunk 10.5%.
WASHINGTON (July 3, 2023) — National nonresidential construction spending decreased 0.2% in May, according to an Associated Builders and Contractors (ABC) analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.06 trillion.
