The average annual sales growth for the 12 months through September 2022 is 23.5% percent, HARDI announced.
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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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The increase in shipping rates comes amid a slew of changes for UPS in 2023.
The increase in production was in part thanks to oil and autos bouncing back after a lackluster August.
It was a strong year-over-year growth month and sequential rebound from a month-to-month decline in July.
Because of lingering inflation, the Fed may enact a fourth straight 0.75-percentage-point increase to interest rates in the coming weeks.
Construction input prices dipped 0.1% in September compared to the previous month but remained 41% ahead of February 2020 pre-COVID levels.
Backlog is once again above the level observed at the start of the pandemic, according to the Associated Builders and Contractors.
The increase snapped a streak of four consecutive months in which orders of manufacturing technology declined.
Sliding new orders, employment, supplier deliveries and prices all factored into the latest reading, which showed further deceleration in expansion.
Led by declines in production-related indicators, the Chicago Fed National ActivityIndex decreased to a neutral value in August from +0.29 in July.
The latest 0.75 percentage point increase brings the Fed's benchmark interest rate to its highest mark since early 2008.
Builder confidence in the market for newly built single-family homes fell again in September.
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Year-to-date dollar volume ended July running about 15% lower than 2019.
