The U.S. economy grew at an annual rate of 2.6 percent in the fourth quarter of 2018, according to an Associated Builders and Contractors analysis of data published today by the U.S. Bureau of Economic Analysis. Year-over-year GDP growth was 3.1 percent, while average growth for 2018 was 2.9 percent.

Construction prices rose 0.5 percent in October and are 7.9 percent high than at the same time a year ago, according to an analysis of Bureau of Labor Statistics Producer Price Index data conducted by Associated Builders and Contractors. 

Larry Lopez, president and chief executive officer of Green JobWorks, Baltimore, and chairman of Associated Builders and Contractor’s Diversity Committee, testified today before the U.S. House of Representatives Subcommittee on Economic Growth, Tax and Capital Access on how recent economic growth is positively impacting local communities.  

Total nonresidential spending stood at $748.8 billion on a seasonally adjusted, annualized rate in July, an increase of 5.3 percent from the same time last year. 

Associated Builders and Contractors and the Board of Certified Safety Professionals signed an agreement during ABC’s annual convention to promote construction workplace safety and health.

The Associate Builders and Contractors reports that the U.S. economy expanded at an annualized 4.1 percent rate during the second quarter of 2018.

On behalf of Associated Builders and Contractors, Mike Holland, chief operating officer, MAREK Companies, testified today before the U.S. Senate Committee on Health, Education, Labor and Pensions about the need to modernize and expand apprenticeship opportunities in the United States. 

Associated Builders and Contractors and the U.S. Veterans Business Alliance signed an agreement during ABC’s annual convention in Long Beach, California, to expand the participation of veteran- and disabled veteran-owned businesses in the construction industry.

An executive with the Associated Builders and Contractors has been appointed to a White House task force on apprenticeships.