PPI for inputs to construction industries rose 0.4% for the month and 4.5% over 12
months. Although higher than the finished goods PPI, the 12-month increase was
the mildest for construction materials since the year ending in September 2010.
The drop in industry unemployment, unaccompanied
by a rise in construction employment, suggests workers are finding jobs in
other industries, retiring, returning to school or training, or leaving the
workforce. That may make hiring more difficult when construction demand picks
U.S. Senate Nov. 10 unanimously approved legislation to repeal a federal
mandate that government agencies withhold part of their payments to contractors and added
an amendment to provide tax credits to companies that hire veterans.
The producer price index for inputs to construction industries - a
weighted average of the price of all goods used in every type of construction,
plus items consumed by contractors, such as diesel fuel - was flat for September
but up 8.1 percent over the September 2010 level.
The pickup for total construction in August was
the result of greater activity for each of construction’s three main sectors - nonresidential
building [7 percent], residential building [4 percent] and nonbuilding
construction [13 percent]. For the first eight months of 2011, total
construction on an unadjusted basis was down 6 percent from the same period a