from Mark Smith, Advocate, California Builders Alliance
PPI for final demand rises 0.3% in January; services increase 0.6%, goods decrease 0.2%
The Producer Price Index for final demand increased 0.3 percent in January. Prices for final demand services rose 0.6 percent, and the index for final demand goods decreased 0.2 percent. The index for final demand advanced 0.9 percent for the 12 months ended in January.
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CPI for all items rose 0.3% in January; shelter up
In January, the Consumer Price Index for All Urban Consumers increased 0.3 percent, seasonally adjusted, and rose 3.1 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.4 percent in January (SA); up 3.9 percent over the year (NSA).
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Dodge Momentum Index edges up in Jan.
A 2.1% gain in the institutional sector helped overcome a 1% decline in the commercial category to lift the Dodge Momentum Index 0.1% in January to 184.1. Lending standards began to loosen last month and "momentum should resume in commercial activity throughout 2024 as owners and developers gain confidence in market conditions for 2025," says Sarah Martin, Dodge Construction Network's associate director of forecasting. Full Story: Dodge Data & Analytics
Cat sees best year with record sales, revenue
Caterpillar has reported a record $67.1 billion in sales and revenue for 2023, up 13% compared with 2022, giving the company "the best year in our 98-year history," Chair and CEO Jim Umpleby says. Sales and revenue increased 3% year over year in the fourth quarter to $17.1 billion. Full Story: Equipment World
Skanska’s Q4 profits tumble 73% due to property market
As U.S. construction helped bolster the Swedish builder’s balance sheet, the states’ poor commercial property market and return-to-office rates had negative impacts.
Construction could fill more jobs with more available labor
Construction employment figures ticked upward year over year in December 2023 in 224 of 358 metropolitan areas, according to federal data analyzed by the Associated General Contractors of America, but "even more metro areas would have added workers if they were available," says economist Ken Simonson. There has been immigration reform proposed in the Senate aimed at filling employment gaps, but AGC argues the measure would not expand vital visa programs and would add difficulty to the process of gaining work authorization. Full Story: Daily Commercial News (Ontario)
Congress looks to overturn FHWA GHG rule
A recently introduced, bicameral joint resolution aims to repeal a Federal Highway Administration rule imposing greenhouse gas emissions performance measures on state departments of transportation and metropolitan planning organizations. "This one-size-fits-all regulation puts states with more small towns and rural communities that are not able to cut emissions by building a metro system, buying electric buses or building miles of bike lanes between communities at a significant disadvantage," said Rep. Rick Crawford, R-Ark. Full Story: Transport Topics
AGC calls on OMB to adjust its role in Buy America oversight
The Associated General Contractors of America and three other trade groups have called on the Office of Management and Budget to shift its focus from "managing virtually every aspect of the Build America, Buy America Act requirements" under the federal infrastructure law, to a broader focus that allows for greater authority from other agencies. The coalition's petition to OMB complements messaging from a recent House panel that noted that the current BABAA process is adding complications for contractors. Full Story: Engineering News-Record (tiered subscription model)
World of Concrete showcases "Super Bowl of masonry"
The "Super Bowl of masonry," otherwise known as the SpecMix Bricklayer 500, is a prime feature at the annual World of Concrete gathering in Las Vegas. Conor Knighton surveys this speed bricklaying event and other action at this year's conference, described by one attendee as a "ComicCon for the concrete guys." Full Story: CBS News
Energy Dept. unveils $2.7B for clean energy projects
The Energy Department has introduced a $2.7 billion funding opportunity under the federal infrastructure law to support up to $1.2 billion of new or expanded transmission projects and up to $72 million for efficiency upgrades at 46 hydropower sites. The solicitation also includes $16 million for a pair of tidal power pilot projects and $60 million for three enhanced geothermal systems. Full Story: Engineering News-Record (tiered subscription model)
FAA distributing $970M for projects at 114 airports
Airports in Chicago, Washington, D.C., and 112 other cities around the country will get a boost from $970 million in federal funding for renewal and expansion projects. The money from the Federal Aviation Administration includes $40 million for upgrades at Chicago's O'Hare airport and $35 million for a new terminal at Washington's Dulles, as well as $31 million each for airports in Los Angeles and San Francisco. Full Story: Simple Flying Reuters
Lego-like construction blocks earn innovation honor
Renco's system employing Lego-like blocks with interlocking knobs has earned the company the first-place building innovation award at the 2024 JEC Composites Innovation Awards in Paris. Further innovation is evident in the blocks' composite use of recycled glass fibers, resin and stone, with a claimed strength superiority over concrete. Full Story: Construction Briefing
Fla. bill would preempt worker protections from heat
A bill in the Florida Legislature would bar any future attempts by county or city governments to impose heat safety rules to protect workers. Further safety measures are in the offing, but so are concerted efforts by the construction and agriculture industries to block them. Full Story: Miami Herald (tiered subscription model)
Bill would boost pre-apprenticeship education
Pre-apprenticeship programs for the building and construction trades stand to benefit from bipartisan legislation introduced in Congress last week. The Pre-Apprenticeships to Hardhats Act is designed to help fill crucial construction jobs by offering grants to a variety of stakeholders to help provide instruction ranging from basic literacy and math to work-readiness. Full Story: NJBIZ (New Jersey)
How drones can be used to size up site materials
A single drone operator requires only a few hours at a job site to tally the volume and weight of stored soil or materials, eliminating the need for a lengthy, laborious process, writes Erik Gronneberg, a reality-capture manager at Columbia Construction. Gronneberg reviews the basics of using drones in this capacity -- selecting the right drone and software and hiring a licensed pilot.Full Story: Construction Dive
Webcor demolition making way for Google transit village
Google's plan to build a new neighborhood in downtown San Jose, Calif., is about to advance with planned demolition of a former hardware complex. Webcor has been signed as the general contractor for the demolition, which is to begin this month and be completed in late May and could include another building, according to Webcor. Full Story: San Jose Mercury News (Calif.) (tiered subscription model)
San Diego adopts project labor ordnance
A new project labor ordnance is now in place in San Diego to govern most city-funded construction projects. "This project labor agreement will ensure good-paying, local jobs for San Diegans and ensure the dollars we spend on construction projects goes back into their pockets, which will help power our regional economy for years to come," says Mayor Todd Gloria, who signed the measure into law on Wednesday. Full Story: Times of San Diego
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Mark Smith
Advocate
California Builders Alliance
5370 Elvas Avenue ǀ Sacramento, CA 95819
Cell: 916.335.5072
Email: mark.smith@calbuilders.org
Email: mark@smithpolicygroup.com
