According to recent economic indicators and the predictions of three industry economists, the construction industry can be optimistic about its future. In particular, ABC Chief Economist Anirban Basu expects nonresidential construction to achieve 7 percent nominal growth in 2014, despite ongoing challenges in the public construction segment.

Overall construction materials prices increased 0.4 percent in April and are up 1.5 percent year over year, according to the May 14 Producer Price Index released by the U.S. Department of Labor. Nonresidential construction material prices were up 0.5 percent for the month and are 1.4 percent higher than the same time last year.

Many ABC members were greeted with a significant tax increase this tax day, April 15. Construction contractors who survived the recession already paid the highest effective tax rate of any sector, and now they face even higher taxes thanks to rising marginal rates, reinstated limits on deductions, and new surtaxes on wages and income stemming from the health care law.

An economic study organized by the Associated Builders and Contractors (ABC) Alabama chapter found commercial construction’seconomic impact exceeds $9.6 billion, making it the largest industry in the state. 

The Coalition for Fair Effective Tax Rates and the Reforming America’s Taxes Equitably (RATE) Coalition held a joint press conferenceSept. 19 to support the passing of comprehensive tax reform that would lower both individual and corporate rates and eliminate distorting tax preferences. 

A study completed by the Tax Foundation found that, with pass-through businesses surpassing traditional corporations in number, individual tax rates with higher burdens impact hiring and other investment plans, causing an already struggling economy to remain unstable.

Economists from ABC, American Institute of Architects and National Association of Home Builders (NAHB) gave their perspectives June 17 about where the construction economy is headed during an online news conference. As a whole, things are improving, but recovery will continue to be slow unless more jobs are created.

According to the March 9 employment report by the Department of Labor, the construction industry added 48,000 jobs in February—the largest monthly increase since March 2007 – with growth reported in every significant construction segment and with specialty trade contractors responsible for approximately two out of every three jobs.

According to the March 9 employment report by the Department of Labor, the construction industry added 48,000 jobs in February—the largest monthly increase since March 2007 – with growth reported in every significant construction segment and with specialty trade contractors responsible for approximately two out of every three jobs.

As part of the Stop the HIT Coalition, ABC Feb. 15 applauded the introduction of the Jobs and Premium Protection Act of 2013, a bill that would repeal the health insurance tax (HIT) provisions in the Patient Protection and Affordable Care Act (PPACA).