Building ‘momentum’ falls, Dodge reports; union pay raises climb; outlook for renewables is hazy

Nonresidential building projects in planning  The Dodge Momentum Index slid 8.4% in January after 10 consecutive monthly increases but climbed 32% year-over-year (y/y), Dodge Construction Network reported on Tuesday. The index “is a monthly measure of the initial report for nonresidential building projects in planning, shown to lead construction spending for nonresidential buildings by a full year.”…    Read more

Union craft workers in construction  The “first year of new settlements reached in 2022 for union craft workers in the construction industry had an average increase of 3.8% [for] wages, fringe benefits, and other employer payments,” the Construction Labor Research Council reported on February 3…    Read more

Supply-chain and trade issues   “Developers plan to add 54.5 gigawatts (GW) of new utility-scale electric-generating capacity to the U.S. power grid in 2023, according to our Preliminary Monthly Electric Generator Inventory,” the Energy Information Administration reported on Monday in its “Today in Energy” blog…    Read more

Census of construction  The Census Bureau posted a notice today reminding firms to complete the Economic Census forms by March 15 if they were asked to participate. The Census of Construction and other economic censuses are used by policymakers, economic development officials, market researchers, and others to gauge the importance of construction in local and state economies and to track the inputs used in establishing producer price indexes and the impacts of construction spending.    Read more