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.
