Orders totaled $457.7 million in October 2022, a 20% drop from the same month last year and down 12% from September.
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Construction input prices fell 0.9% in November but remain 40% ahead of February 2020 pre-pandemic levels.
The seasonally adjusted annual rate of $1.795 trillion was 0.3% below the revised September estimate of $1.8 trillion.
The industrial manufacturing barometer fell another 1.2 points from October, continuing its year-long slide.
This increase, up seven of the last eight months, followed a 0.3% increase in September.
U.S. producer prices increased less than expected in October, according to data released by the U.S. Bureau of Labor Statistics.
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The Wall Street Journal reports the layoffs would affect about 3% of corporate staff, not hundreds of thousands of Amazon warehouse workers.
After surpassing its pre-pandemic level in September, backlog is now back below the reading observed at the start of the pandemic, according to ABC.
New orders of manufacturing technology totaled $519.3 million in September 2022, a 13% increase from August, according to a new AMT report.
Last month, the Consumer Price Index was up 7.7% from October 2021, according to data from the Bureau of Labor Statistics.
An economic slowdown within the next 12 months is looking increasingly likely, according to economists.
On a year-over-year basis, industry employment has risen by 266,000 jobs, an increase of 3.6%, according to Associated Builders and Contractors.
The average annual sales growth for the 12 months through September 2022 is 23.5% percent, HARDI announced.
Key sub-indexes of orders, production and employment each rose from Sepember, but were more than offset by declines elsewhere.
The construction industry had 422,000 job openings in September, according to an Associated Builders and Contractors’ analysis.
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Prices climbed about 6.2% last month compared to a year earlier, the same rate as in August, according to the Commerce Department.
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