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The AtkinsRéalis Construction Data Intelligence® Monthly Report highlights some of the key information the team collects on the construction market and wider economy.
This data is used in both internal and external deliverables to inform colleagues and clients about the current state of the construction industry. The information presented in this report is essential for those interested in staying updated on the latest market data and provides valuable insights to help ensure projects account for external economic factors.
The report is presented in Power BI and can be accessed through this AtkinsRéalis CDI Report link. A PDF of the report can be viewed here. Instructions on how to navigate within the live report are contained on the (?) button on the home page.
Some of the notable developments observed in this month’s report are highlighted below:
Material & Bid Prices
- The U.S. Bureau of Labor Statistics (BLS) data recorded a significant increase in general bid price escalation in July 2024, with electrical contractors seeing the largest escalation.
- Nonresidential bid prices for new builds also accelerated, largely driven by continued escalation in bid prices for new office construction.
- Prices for copper wire and cable declined 3% in July, though prices are still about 14% higher than they were one year ago.
Steel Prices
- Average prices for U.S steel products continue to steadily decline towards historically-normal levels.
- Chinese steel prices could crash as the Chinese property sector slows; this will likely create downwards pressure on global steel prices going forward.
Market Indicators
- Relatively healthy levels of backlog reported by the Associated Builders and Contractors (ABC) survey respondents. Heavy Industrial contractors reported notably high backlog.
- Overall inflation rose slower than expected in July, which could preclude a larger slash in interest rates.
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