flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

Construction economists optimistic about 2014 growth

Construction economists optimistic about 2014 growth

ABC’s quarterly Construction Backlog Indicator (CBI) will be released Aug. 19.


By Associated Builders and Contractors | August 5, 2014
Associated Builders and Contractors (ABC) Chief Economist Anirban Basu, American Institute of Architects (AIA) Chief Economist Kermit Baker and National Association of Home Builders (NAHB) Chief Economist David Crowe provided a collaborative economic forecast combining their expert economic analysis on leading, present and lagging economic indicators.
 
"A combination of low interest rates; wealth effects stemming from a booming stock market and rising home prices; surging energy production; and expanding industrial output has helped position the U.S. economy for more rapid growth during the next several quarters," said ABC Chief Economist Anirban Basu. "This will lead to more robust recovery in the U.S. nonresidential construction industry, which has also been aided by stable materials prices and improving commercial real estate fundamentals. ABC predicts 7 percent nominal nonresidential construction growth in 2014, despite ongoing challenges in the public construction segment."
 
"We continue to have an optimistic outlook for the commercial and industrial sectors for the rest of this year and into 2015," said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. "However, until we see state and local governments ramp up spending for new education, health care and public safety structures there likely won’t be a widespread acceleration in spending for the entire industry."
 
"Economic pick-up in the second quarter was coupled with a return in housing construction," said David Crowe, chief economist for NAHB. "We expect continued modest growth in housing construction as employment rises and more household formations take place. However, continued tight supplies of labor and land will put upward pressure on new home prices."
 
In addition to this forecast, AIA released its latest Architecture Billings Index (ABI) July 23, NAHB released its latest NAHB/Wells Fargo Housing Market Index (HMI) July 16 and ABC’s quarterly Construction Backlog Indicator (CBI) will be released Aug. 19.

Related Stories

Office Buildings | May 19, 2022

JLL releases its 2022 Office Fit Out Guide

JLL’s 2022 Office Fit Out Guide report provides benchmark costs to build out a range of office types across major markets in the United States and Canada.

Biophilic Design | May 18, 2022

Horticulturalists conduct research study to understand the value of biophilic design

Benholm Group, horticulturalists that have pioneered the use of plants for interiors over the past 27 years, are collaborating on a research study to understand the value of biophilic design, according to a news release.

Market Data | May 18, 2022

Architecture Billings Index moderates slightly, remains strong

For the fifteenth consecutive month architecture firms reported increasing demand for design services in April, according to a new report today from The American Institute of Architects (AIA).

Building Team | May 18, 2022

Bjarke Ingels-designed KING Toronto releases its final set of luxury penthouses

In April 2020, a penthouse at KING Toronto sold for $16 million, the highest condo sale in Toronto that year or the year after.

Building Team | May 17, 2022

MKA’s Embodied Carbon Action Plan will include reporting on carbon reductions for selected projects

Magnusson Klemencic Associates (MKA) recently released its SE 2050 Embodied Carbon Action Plan (ECAP) for 2022.

University Buildings | May 16, 2022

Yale’s newly renovated Schwarzman Center enriches student campus social life

Robert A.M. Stern Architects (RAMSA) recently unveiled the design of their restoration of the Schwarzman Center at Yale University, which includes dining spaces, a bar, and a food shop.

K-12 Schools | May 16, 2022

Private faculty offices are becoming a thing of the past at all levels of education

Perkins & Will’s recent design projects are using the area to encourage collaboration.

Codes and Standards | May 16, 2022

AIA releases Justice in the Built Environment guide

The American Institute of Architects (AIA) recently published a new supplementary edition of the Guides for Equitable Practice, titled “Justice in the Built Environment.”

K-12 Schools | May 16, 2022

A Quaker high school in Maryland is the first in the U.S. to get WELL Gold certification

Designed by Stantec, a Quaker high school is the first in the US to receive WELL Gold certification, which recognizes a commitment to occupants’ health and well-being.

Building Team | May 13, 2022

Glass penthouses rise above Toronto’s tree line

In midtown Toronto, the nine-story midrise building Leaside Common has released its Penthouse Collection: two-floor penthouses that take inspiration from Philip Johnson’s Glass House in Connecticut.

boombox1
boombox2
native1

More In Category




halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021