HORIZONTV FEATURING BD+C: WATCH EPISODES ON DEMAND AT HORIZONTV

𝕏

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

Continue Reading

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.

Tags

Related Stories

Call for technical experts: Dog wash station design

Multifamily Housing | Dec 12, 2017

Call for technical experts: Dog wash station design

The editors of Multifamily Design + Construction magazine need your expertise.

First Porsche, now Aston Martin: Sports car maker co-develops Miami condo tower

Multifamily Housing | Nov 29, 2017

First Porsche, now Aston Martin: Sports car maker co-develops Miami condo tower *UPDATED

The 391-unit Aston Martin Residences will feature seven penthouses and a duplex penthouse, all with private pools and terraces overlooking Biscayne Bay.

2018 outlook: Economists point to slowdown, AEC professionals say ‘no way’

Industry Research | Nov 28, 2017

2018 outlook: Economists point to slowdown, AEC professionals say ‘no way’

Multifamily housing and senior living developments head the list of the hottest sectors heading into 2018, according a survey of 356 AEC professionals.

Continuing Education and Life Time Learning | Nov 22, 2017

A new vocational center in Colorado hones high school students' woodworking and construction skills

The MILL National Training Center will extend its curriculum to vets and businesses in 2018.

Anthem House is a new $100 million lifestyle community on a three-acre abandoned industrial site in the Locust Point section of Baltimore.

Multifamily Housing | Nov 15, 2017

6 noteworthy multifamily developments: artists housing, tech lofts, resort-style senior living

These recently completed projects represent emerging trends and design innovations in the multifamily sector.

Contractors | Nov 13, 2017

CBRE completes acquisition of Heery International

The deal is expected to expand the real-estate firm’s project management capacities in several U.S. sectors.

No place like home: LA’s The Six provides permanent supportive housing for veterans

Multifamily Housing | Nov 8, 2017

No place like home: LA’s The Six provides permanent supportive housing for veterans

The 52-unit development gives hope and dignity to homeless or disabled veterans and others in need.

Giants 400 | Nov 7, 2017

Top 25 transit construction firms

Skanska USA, Webcor Builders, and AECOM top BD+C’s ranking of the nation’s largest transit sector contractors and construction management firms, as reported in the 2017 Giants 300 Report.

How to start a negotiation: Begin as you mean to continue

Architects | Nov 6, 2017

How to start a negotiation: Begin as you mean to continue

How you start a negotiation often will determine where you end up, writes negotiation and mediation expert Brenda Radmacher.

Giants 400 | Nov 2, 2017

Top 80 industrial construction firms

Walbridge, Jacobs, and Fluor top BD+C’s ranking of the nation’s largest industrial sector contractors and construction management firms, as reported in the 2017 Giants 300 Report.

Top Articles

MFPRO+ New Projects

BIG’s One High Line finally reaches completion in New York City’s West Chelsea neighborhood

Urban Planning

Bridging the gap: How early architect involvement can revolutionize a city’s capital improvement plans

Building Enclosure Systems

Winners of Building Envelope Innovation Prize focus on secondary glazing

More In Category

M/E/P Systems

After residential success, DOE will test heat pumps for cold climates in commercial sector

All eight manufacturers in the U.S. Department of Energy’s Residential Cold Climate Heat Pump Challenge completed rigorous product field testing to demonstrate energy efficiency and improved performance in cold weather.

MFPRO+ New Projects

Luxury waterfront tower in Brooklyn features East River and Manhattan skyline views

Leasing recently began for The Dupont, a 41-story luxury rental property along the Brooklyn, N.Y., waterfront. Located within the 22-acre Greenpoint Landing, where it overlooks the newly constructed Newtown Barge Park, the high-rise features East River and Manhattan skyline views along with 20,000 sf of indoor and outdoor communal space.

Resiliency

Climate change degrades buildings slowly but steadily

While natural disasters such as hurricanes and wildfires can destroy buildings in minutes, other factors exacerbated by climate change degrade buildings more slowly but still cause costly damage.

Hotel Facilities

Hotel construction pipeline surpasses 6,200 projects at Q3 2024

According to the U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics, the total hotel pipeline stands at 6,211 projects/722,821 rooms, a new all-time high for projects in the U.S.

Most Popular Content