Leading indicators from MHC, AIA send mixed signals; office-to-apartment trend spreadsEditor’s note:  Construction Citizen is proud to partner with AGC America to bring you AGC Chief Economist Ken Simonson's Data DIGest. Check back each week to get Ken's expert analysis of what's happening in our industry.The Dodge Momentum Index, “a monthly measure of the first (or initial) report for nonresidential building projects in planning,” advanced 8.4% in April, McGraw Hill Construction (MHC) reported last Thursday. The index has “been shown to lead construction spending for nonresidential buildings by a full year. The Momentum Index had retreated in February and March, following the steady gains that were reported during most of 2013. With the April increase, the Momentum Index resumed its upward track, and is up 17.8% compared to the same month a year ago. A harsh winter helped slow overall economic growth in the first months of 2014, but prospects for commercial development are again showing improvement, as reflected by the growing volume of projects at the planning stage and strengthening market fundamentals such as occupancy rates and rents. The April Momentum Index was bolstered by an upturn for both of its segments. Commercial was the stronger of the two components, climbing 12.1% from March….The institutional segment of the Momentum Index, meanwhile, rose 3.9% in April, marking its first monthly increase since January.”

Nonresidential starts rise, MHC says; ABI turns negative; industry GDP fell in late 2013Editor’s note:  Construction Citizen is proud to partner with AGC America to bring you AGC Chief Economist Ken Simonson's Data DIGest. Check back each week to get Ken's expert analysis of what's happening in our industry.The value of new construction starts in March increased 7% at a seasonally adjusted annual rate, McGraw Hill Construction (MHC) reported last Monday, based on data it collected. “Nonresidential building picked up the pace [+24%] after its lackluster performance at the outset of this year, while nonbuilding construction managed a moderate gain [6%]. Meanwhile, residential building settled back [-2%] as single-family housing remained sluggish. During the first three months of 2014, total construction starts on an unadjusted basis were…down 2% from the same period a year ago.”  

PPIs remain mild; most metros add jobs; ABI ably predicts building activity, AIA findsEditor’s note:  Construction Citizen is proud to partner with AGC America to bring you AGC Chief Economist Ken Simonson's Data DIGest. Check back each week to get Ken's expert analysis of what's happening in our industry.Sign up for a complimentary webinar on construction outlook on April 17 with me; AIA Chief Economist Kermit Baker; and Reed Construction Data’s Chief U.S. Economist, Bernard Markstein.The producer price index (PPI) for final demand increased 0.7%, not seasonally adjusted (0.5%, seasonally adjusted), in March and 1.4% over 12 months, the Bureau of Labor Statistics (BLS) reported Friday.  

37 states added jobs in year ending in February; population growth swings to big metrosEditor’s note:  Construction Citizen is proud to partner with AGC America to bring you AGC Chief Economist Ken Simonson's Data DIGest. Check back each week to get Ken's expert analysis of what's happening in our industry.Sign up here for complimentary webinar on construction outlook on April 17 with me; AIA Chief Economist Kermit Baker; and Reed Construction Data’s Chief U.S. Economist, Bernard Markstein.Seasonally adjusted construction employment increased in 37 states between February 2013 and February 2014, decreased in 10 states and the District of Columbia, and remained level in Hawaii, Maine, and South Dakota, an AGC analysis of Bureau of Labor Statistics (BLS) data released Friday showed. The largest percentage gains were in Florida (11%, 39,200); Nevada (10.4%, 5,800 jobs); Oregon (9.8%, 7,000); Minnesota (8.1%, 7,900) and Connecticut (7.2%, 3,800).