Overall, the construction industry added a net 2,000 jobs in January, the BLS and NAHB reported. Employment increased in 23 states.
News in end use
Canadian CPI Increases 2.6% Year-Over-Year in February
The Consumer Price Index rose 1.1% in February. Year-over-year, the CPI increased 2.6%, following a 1.9% increase in January.
US Builder Confidence Declines for Second Consecutive Month in March
The NAHB/Wells Fargo Housing Market Index fell to a reading of 39 in March, down 3 points in February and the lowest level in 7 months.
Nonresidential Construction Materials Costs Increase 0.6% in February
Nonresidential construction input prices increased 0.6% during February, the BLS and ABC reported. Overall construction input prices were 0.3% higher than one year ago.
Investment in Canadian Building Construction Increases 1.8% in January
Investment in Canadian building construction increased 1.8%, or CA$393.7 million, to $22.1 billion in January.
Canadian Existing-Home Sales Drop as Tariff Uncertainties Keep Potential Buyers Sidelined
Existing-home sales activity declined 9.8% in February, the largest month-over-month decline in activity since May 2022, CREA reported.
Higher Softwood Lumber Prices Continue to Impact Cost of US Residential Building Materials
Prices for inputs to new residential construction—excluding capital investment, labor, and imports—increased 0.5% in February, the BLS and NAHB reported.
University of Michigan Releases Preliminary Results of Its Consumer Sentiment Index for March
The Index of Consumer Sentiment declined to a reading of 57.9 in March—a month-over-month decline of 10.5% and down 27.1% year-over-year.
US Producer Price Index Increases 3.2% Year-Over-Year in February
On an unadjusted basis, the Producer Price Index (PPI) for final demand increased 3.2% year-over-year.
US Mortgage Rates Creep Higher in the Week Ending March 13
The 30-year fixed-rate mortgage averaged 6.65%, up from last week when it averaged 6.63%, Freddie Mac reported.