AGC Data DIGest: August 21-25, 2023
Supply chain improves—with exceptions, AGC firms say; ConstructConnect finds less project ‘stress’
Contractors have reported far fewer supply-chain problems recently than in 2020-2022, according to informal soundings in mid-July by AGC chapters. The most frequently reported issue was electrical equipment such as switchgear, transformers, meter bases, lighting, and traffic signaling. One contractor reported, “Switchgear is getting worse instead of better it seems. [node:read-more:link]
Seasonally adjusted construction employment rose from July 2022 to July 2023 in 45 states and the District of Columbia, fell in four states, and was unchanged in Vermont, according to AGC’s 
Construction employment, seasonally adjusted, totaled 7,971,000 in July, a gain of 19,000 from June and 198,000 (2.5%) year-over-year (y/y), according to AGC’s 
Seasonally adjusted construction employment rose from June 2022 to June 2023 in 45 states, was flat in the District of Columbia, and fell in five states, according to AGC’s 
The producer price index (PPI) for material and service inputs to new nonresidential construction was unchanged from May to June and decreased 3.8% year-over-year (y/y), according to Bureau of Labor Statistics (BLS) data 
Construction employment, seasonally adjusted, totaled 7,947,000 in June, a gain of 23,000 from May and 198,000 (2.6%) year-over-year (y/y), according to AGC’s 
Construction employment, not seasonally adjusted, rose from May 2022 in 230 (64%) of the 358 metro areas (including divisions of larger metros) for which BLS 
Four reports this week indicate a steep decline in multifamily starts, permits, or design work, with mixed signs for nonresidential projects. 
The producer price index (PPI) for material and service inputs to new nonresidential construction fell 0.6% from April to May and 3.4% year-over-year (y/y), according to Bureau of Labor Statistics (BLS) data 
The Dodge Momentum Index fell 2.0% in May but rose 11% year-over-year (y/y), Dodge Construction Network 