Vol. 23, No. 7 February 20-24, 2023 Dodge, ConstructConnect diverge on January starts; ABI signals milder downturn than before Dodge January starts Two reports on construction starts in January point in different directions. Total construction starts in current dollars (i.e., not inflation-adjusted) slumped 27% from December to January at a seasonally adjusted annual rate and 14% year-over-year (y/y), Dodge Construction Network reported on Tuesday…  Read more ConstructConnect January starts The value of construction starts in current dollars climbed 25% y/y in January, data firm ConstructConnect reported on Thursday. “January was another month with an extraordinary wealth of mega-sized project initiations (i.e., projects carrying estimated values of a billion dollars or more each).”… Read more January ABI The Architecture Billings Index (ABI) registered a score of 49.3 in January, up from 48.4 in December but the fourth-straight reading below 50, the American Institute of Architects (AIA) reported on Wednesday. (AIA made routine annual revisions to seasonal adjustment factors that changed some previous readings, with mainly upward changes in recent scores.)… Read more Performance of office building industry “Concerns over the health of the office building industry have mounted throughout the pandemic,” the Wall Street Journal reported on Wednesday. “The weak return-to-office rate has led to soaring vacancy levels in many cities… Read more Construction share of workers with and without a disability The Bureau of Labor Statistics on Thursday posted an annual report on workforce characteristics of persons with a disability. Of the 7.0 million such employed persons, 6.7% were employed in the construction industry (up from 6.6% out of 6.0 million such workers in 2021), compared to 7.5% of the 151.3 million workers with no disability (up from 7.4% of 146.6 million in 2021)… Read more |