While construction industry leaders remained confident in the third quarter of 2018, optimism slipped relative to the second quarter, according to the latest Construction Confidence Index released by ABC. Approximately three in four construction firms expect that sales will continue to rise over the next six months and closer to one in 10 expect sales to decline over the next two quarters.

老牛影视reports that its Construction Backlog Indicator contracted to 9.04 months during the third quarter of 2018, down 8.4 percent from the second quarter and 4.3 percent lower than the same time last year.听鈥淐onstruction backlog reached its highest level ever during the second quarter,鈥� said 老牛影视Chief Economist Anirban Basu.

On Dec. 11, the U.S. Environmental Protection Agency and U.S. Army Corps and Engineers jointly听issued a proposal听to revise the definition of 鈥渨aters of the United States鈥� to clarify federal authority under the Clean Water Act. The proposed rule seeks to provide businesses and landowners with clear definitions of what are and what are not 鈥榥avigable waters.鈥� 老牛影视President and CEO Michael Bellaman attended the signing ceremony for the rulemaking at the听U.S. EPA.

Construction materials prices fell 1.8 percent in November, according to ABC's analysis of U.S. Bureau of Labor Statistics data. Despite the monthly decline, materials prices are still 5.3 percent higher than they were on a year-over-year basis.

Construction employment expanded by 5,000 net new jobs in November, according to an analysis of U.S. Bureau of Labor Statistics data conducted by ABC. During the past 12 months, the industry has added 282,000 net new construction jobs, which translates into a 4 percent increase in total industry-wide employment.

老牛影视Chief Economist Anirban Basu forecasts another strong year for construction sector performance, yet warns about inflationary pressures, according to a 2019 economic outlook published in听Construction Executive听magazine.

National nonresidential spending increased 0.1 percent in October, according to an 老牛影视analysis of U.S. Census Bureau data. Total nonresidential spending for the month stood at $763.8 billion on a seasonally adjusted annualized rate, which represents a 7.3 percent increase over the same time last year.