The U.S. Census Bureau announced the following value put in place construction statistics for September 2024:

Total Construction

Construction spending during September 2024 was estimated at a seasonally adjusted annual rate of $2,148.8 billion, 0.1 percent (±1.0 percent)* above the revised August estimate of $2,146.0 billion. The September figure is 4.6 percent (±1.6 percent) above the September 2023 estimate of $2,055.2 billion. During the first nine months of this year, construction spending amounted to $1,621.4 billion, 7.3 percent (±1.2 percent) above the $1,511.4 billion for the same period in 2023.

Private Construction

Spending on private construction was at a seasonally adjusted annual rate of $1,653.6 billion, virtually unchanged from (±0.5 percent)* the revised August estimate of $1,653.2 billion. Residential construction was at a seasonally adjusted annual rate of $913.6 billion in September, 0.2 percent (±1.3 percent)* above the revised August estimate of $912.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $740.0 billion in September, 0.1 percent (±0.5 percent)* below the revised August estimate of $741.0 billion.

Public Construction

In September, the estimated seasonally adjusted annual rate of public construction spending was $495.2 billion, 0.5 percent (±1.8 percent)* above the revised August estimate of $492.9 billion. Educational construction was at a seasonally adjusted annual rate of $104.2 billion, 0.3 percent (±2.1 percent)* above the revised August estimate of $103.9 billion. Highway construction was at a seasonally adjusted annual rate of $141.0 billion, 0.5 percent (±4.4 percent)* above the revised August estimate of $140.3 billion.

Dodge Construction

The Dodge Momentum Index (DMI), issued by Dodge Construction Network, decreased 5.3% in October to 197.2 (2000=100) from the revised September reading of 208.2. Over the month, commercial planning fell 6.7%, and institutional planning declined 2.0%.  

“In addition to data center planning normalizing, a moderate pullback in the number of planning projects for several other nonresidential sectors also contributed to the decline in the Dodge Momentum Index for October,” stated Sarah Martin, associate director of forecasting at Dodge Construction Network. “Regardless, owners and developers remain confident in next year’s market conditions, and the planning queue remains poised to spur stronger construction activity in 2025, following deeper rate cuts by the Fed.”  

Most commercial categories faced declines throughout October, aside from hotel planning – which continued to gain momentum. On the institutional side, education and public planning activity expanded, offset by weaker activity in healthcare, recreational, and religious projects.  

This month, the DMI was 13% higher than in October of 2023. The commercial segment was up 18% from year-ago levels, while the institutional segment was up 3% over the same period. The influence of data centers on the DMI this year has been substantial. If we remove all data center projects from January to October, commercial planning would be down 4% from year-ago levels, and the entire DMI would be down 2%. 

A total of 18 projects valued at $100 million or more entered planning throughout October. The largest commercial projects included the $450 million EdgeCloudLink Data Center in Houston, Texas and the $410 million GFT Hotel in Arlington, Texas. The largest institutional projects to enter planning were the $300 million Kellogg School Building at Northwestern University and the $270 million Primrose School of Stevens Ranch in San Antonio, Texas.  

The DMI is a monthly measure of the value of nonresidential building projects going into planning, shown to lead construction spending for nonresidential buildings by a full year.

Construction input prices increased 0.3% in October compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data released today. Nonresidential construction input prices also increased 0.3% for the month.

The construction industry added 8,000 jobs on net in October, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has grown by 223,000 jobs, an increase of 2.8%.  Nonresidential construction employment increased by 13,500 positions on net, with growth in 2 of the 3 subcategories. Nonresidential specialty trade added the most jobs, increasing by 14,300 positions. Nonresidential building added just 300 jobs, while heavy and civil engineering lost 1,100 jobs last month.The construction unemployment rate rose to 4.2% in October. Unemployment across all industries remained unchanged at 4.1% in October.“October’s employment report was severely distorted by Hurricanes Helene and Milton,” said ABC Chief Economist Anirban Basu. “As a result, employers across all industries were estimated to have added just 12,000 jobs, the fewest in any month since the economy lost jobs in December 2020. Importantly, the separate survey that produces the unemployment rate was not affected by the storms and indicates that the jobless rate remained stable at 4.1% in October. “Despite the underwhelming and heavily distorted economywide data, this jobs report indicates that the construction industry added jobs for the fifth straight month,” said Basu. “Over the past year, the construction sector has added jobs at exactly twice the rate of the broader economy, and growth has been even faster in the nonresidential segment. With contractors on net expecting their staffing levels to increase over the next two quarters, according to ABC’s Construction Confidence Index, it appears likely that industry payrolls will continue to expand through at least the early months of 2025.”  AIA The American Institute of Architects (AIA) is sending a delegation to COP29, the 2024 United Nations Climate Change Conference, in Baku, Azerbaijan. This is the fourth year AIA has sent a delegation. AIA is advocating on behalf of the profession and is reinforcing the critical value of the historic Paris Agreement. AIA is strongly encouraging policymakers to remain engaged and increase the urgency and ambition of actions to keep global warming to 1.5 degrees Celsius.The built environment significantly contributes to the carbon emissions that drive escalating temperatures, intensifying weather conditions, and an increasing loss of life. The AIA advocates for the profession of architecture’s needs, emphasizing that each $1 invested in mitigation and adaptation of the built environment saves $13 in the long term.Architects play a profound role in combating climate change through innovative design and the adaptive reuse of existing buildings. Now more than ever, these practices are pivotal in enhancing sustainability and resilience across communities. In 2023, at COP28, 28 countries committed to a new Buildings Breakthrough Agenda to accelerate the industry toward near-net-zero and resilient buildings as the norm by 2030. Architects possess the necessary skills required to implement these transformative changes on a dramatic scale, and AIA members are committed to leading these efforts.During COP29, AIA is specifically calling for increased investment and research to develop and implement breakthrough technologies essential for decarbonizing the built environment. This is crucial to making advanced building technologies, such as zero-carbon materials and decentralized renewable energy systems, viable and widely accessible. Additionally, AIA is stressing the importance of improving codes and building performance standards to ensure that global best practices are adopted and enforced, contributing to energy-efficient and sustainable construction. “As architects, our work is at the forefront of advancing design excellence and sustainable development,” says 2024 AIA President, Kimberly Dowdell, AIA, NOMAC. “Our expertise in high-performance design for new buildings and adaptive reuse for existing infrastructure is crucial in transforming the built environment. To ensure success, we must establish strong partnerships with policymakers who share our vision for resilient and sustainable communities.”Led by Dowdell, AIA’s delegation will participate in the diplomatic heart of COP29, the Blue Zone, engaging policymakers and presenting these ideas at events, including an official UN event on Thursday, November 21. “Buildings Breakthrough for net-zero and resilient buildings: Solutions for effective transformation” is co-organized by AIA, the International Codes Council (ICC), the Royal Institute of British Architects (RIBA), and Delta Electronics Foundation. AIA also co-hosts “All In On Climate Resilience: Strategies and Partnerships for Impact” with FEMA on Thursday, November 14 at the America Is All In Action Center.In conjunction with COP and in support of the Buildings Breakthrough initiatives and goals for decarbonization, resilience, health, and equity, AIA is publishing its first-ever AIA Materials Pledge ‘By the Numbers’ annual report. The AIA Materials Pledge boasts over 280 signatory architecture and design firms committed to selection of building materials that support human, ecosystem and climate health, social health and equity, and circular economy. The inaugural report outlines progress toward pledge goals from 92 reporting signatory firms, to include firmwide practices, as well as project and product-level metrics regarding material health.  The full report can be found here.This follows the recent publication of the AIA 2030 Commitment ‘By the Numbers’ report, which tracks the progress of global architecture firm signatories toward design of projects meeting net zero operational and embodied carbon. As the program marks a 15-year history, this year’s highlights include 24,000 projects reported, culminating in approximately 3.9 billion gross square feet. Projects reporting embodied carbon nearly tripled from the previous year and reported net zero projects jumped to 430 predicted projects, an increase of 24 percent from last year.  ABC The construction industry added 8,000 jobs on net in October, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has grown by 223,000 jobs, an increase of 2.8%.  Nonresidential construction employment increased by 13,500 positions on net, with growth in 2 of the 3 subcategories. Nonresidential specialty trade added the most jobs, increasing by 14,300 positions. Nonresidential building added just 300 jobs, while heavy and civil engineering lost 1,100 jobs last month.The construction unemployment rate rose to 4.2% in October. Unemployment across all industries remained unchanged at 4.1% in October. “October’s employment report was severely distorted by Hurricanes Helene and Milton,” said ABC Chief Economist Anirban Basu. “As a result, employers across all industries were estimated to have added just 12,000 jobs, the fewest in any month since the economy lost jobs in December 2020. Importantly, the separate survey that produces the unemployment rate was not affected by the storms and indicates that the jobless rate remained stable at 4.1% in October.“Despite the underwhelming and heavily distorted economywide data, this jobs report indicates that the construction industry added jobs for the fifth straight month,” said Basu. “Over the past year, the construction sector has added jobs at exactly twice the rate of the broader economy, and growth has been even faster in the nonresidential segment. With contractors on net expecting their staffing levels to increase over the next two quarters, according to ABC’s Construction Confidence Index , it appears likely that industry payrolls will continue to expand through at least the early months of 2025.”

Visit abc.org/economics for the Construction Backlog Indicator and Construction Confidence Index, plus analysis of spending, employment, job openings and the Producer Price Index. Associated Builders and Contractors is a national construction industry trade association established in 1950 that represents more than 23,000 members. Founded on the merit shop philosophy, ABC and its 67 chapters help members develop people, win work and deliver that work safely, ethically and profitably for the betterment of the communities in which ABC and its members work. Visit us at abc.org.

Prices increased in all three energy subcategories last month. Natural gas prices increased by 29.3%, unprocessed energy materials prices rose 9.9% and crude petroleum prices advanced by 7.3%. Overall construction input prices are 0.2% lower than a year ago, while nonresidential construction input prices are 0.5% lower.