Tag: business: Page 11

Business

Construction spending flat in May with dip in residential

Homebuilding declines were nearly matched by gains in nonresidential construction in May as total construction spending in the U.S. was flat for the month, according to preliminary estimates from the Commerce Department. Despite the flat month, construction spending’s total of $1.23 trillion was up 4.5 percent from the year-ago, May 2016 figure. Private residential spending […]

July 3, 2017

Business

Housing starts dip 5.5% in May with big drop in multi-family

The start of construction on new homes in the U.S. fell 5.5 percent in May to a seasonally adjusted annual rate of 1.092 million homes, according to the latest estimates from the Commerce Department. Total starts are down 2.4 percent from the May 2016 estimate, largely due to a decrease in the number of multi-family […]

June 19, 2017

Dealers

Ritchie Bros. completes IronPlanet purchase, outlines organizational structure

Ritchie Bros. announced it has completed its purchase of IronPlanet, a transaction valued at roughly $758.5 million and financed through a senior note offering and secured term loan facility. The company announced plans for the acquisition last August and it was approved by the U.S. Department of Justice’s Antitrust Division in May. The deal also initiates […]

June 12, 2017

Business

Construction Industry Round Table announces new officers

During its annual spring meeting in Washington D.C., the Construction Industry Round Table (CIRT) elected Wayne A. Drinkward as Chairman of the organization for a term of one year. Drinkward is Chairman & CEO of Hoffman Corp., where he works in a wide range of markets, and will replace H. Ralph Hawkins, FAIA, Chairman Emeritus of HKS, […]

June 6, 2017

Business

Construction spending falls 0.2% in March

Gains in residential construction spending during March were offset by an identical loss in nonresidential as total construction spending in the U.S. fell 0.2 percent. Total spending fell to $1.2 trillion, but remains 3.6 percent above the March 2016 figure, according to preliminary data from the Commerce Department. Private residential spending rose 1.2 percent during […]

May 3, 2017

Business

U.S. home starts fall 6.2% in March

Construction on new homes in the U.S. fell in March with declines ing both single- and multi-family starts. Total home starts fell 6.8 percent to a seasonally-adjusted annual rate of 1.215 million, according to preliminary data from the Commerce Department. Total starts remain 9.2 percent above the March 2016 figure. Single-family starts fell 6.2 percent to […]

April 19, 2017

Workforce

Construction sees largest monthly jobs increase in nearly a decade; home starts up 3%

The U.S. construction industry added 58,000 jobs in February, according to preliminary data from the Labor Department. Monthly jobs figures can change as the department revises past estimates month to month, but if February’s figure holds, it would be the second-largest monthly construction jobs gain of the last 10 years. The largest increase of the last decade belongs […]

March 16, 2017

Dealers

AEM: Off-highway equipment industry contributed $159 billion+ to GDP in 2016

With ConExpo’s sunny skies and sunny moods as a backdrop, show producer Association of Equipment Manufacturers (AEM) issued research findings stating the equipment manufacturing industry (construction, agriculture and mining) contributed more than $159 billion to the GDP of the United States in 2016. Produced by research firm IHS Markit, “The Market Size and Economic Contributions […]

March 15, 2017

Business

South Carolina’s Chipley Company named 2017 Contractor of the Year

Roy Chipley, owner of the Chipley Company in Florence, South Carolina, was named Equipment World’s 2017 Contractor of the Year at ceremonies in Las Vegas on Saturday. In 1995, Chipley walked away from from a successful career with Lockheed Martin—where he worked on space shuttle missions with NASA and later asset deployment with the Defense Department—to […]

March 13, 2017

Construction Equipment

Terex CEO lays out streamlined company’s new strategy

After years of acquisitions and divestitures, Terex Corp. has narrowed its focus to three key markets and is setting the course for growth in the specific niches in which it will continue to play. “It has been a very dynamic and exciting time for Terex,” noted John Garrison, president and CEO, during a ConExpo 2017 media […]

March 10, 2017

Business

Construction spending falls 1% in January

U.S. construction spending fell 1 percent in January as residential gains weren’t enough to offset drops in nonresidential and government spending. Spending fell to a seasonally adjusted annual rate of $1.2 trillion in January but remains up 3.1 percent over the January 2016 total, according to preliminary data from the Commerce Department. Private homebuilding rose […]

March 2, 2017

Business

Home starts drop in January as multi-family units settle from surge

The start of construction on new homes in the U.S. fell during January due to a drop in multi-family units. Total home starts fell 2.6 percent to a seasonally adjusted annual rate of 1.246 million but remain up 10.5 percent over the January 2016 rate, according to preliminary data from the Commerce Department. This latest data […]

February 16, 2017