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

Building Team | Apr 4, 2017

Dispelling five myths about post-occupancy evaluations

Many assume that post-occupancy (POE) is a clearly-defined term and concept, but the meaning of POE in practice remains wildly inconsistent.

Structural Materials | Apr 3, 2017

Best of structural steel construction: 4WTC, Fulton Center, Pterodactyl win AISC IDEAS2 Awards

The annual awards program, sponsored by the American Institute of Steel Construction, honors the best in structural steel design and construction.

Reconstruction & Renovation | Mar 16, 2017

Pols are ready to spend $1T on rebuilding America’s infrastructure. But who will pick which projects benefit?

The accounting and consulting firm PwC offers the industrial sector a five-step approach to getting more involved in this process.

Contractors | Mar 15, 2017

Dan Ulbricht joins Skender Construction as Vice President

Ulbricht will be working with Skender’s executive leadership team to augment partnerships and expand new markets.

construction industry

Contractors | Mar 9, 2017

5 reasons why Millennials are great for the construction industry

Millennials often are unfairly saddled with the dubious reputation for being entitled, disloyal, and self-centered, but it turns out that they are actually not that different from their older work colleagues, according to an FMI study.

Industry Research | Mar 7, 2017

These are the 10 most expensive cities in the world to build in

Paris, Frankfurt, and Macau are all on the list, but none of them are more expensive than the city in the number one spot.

Architects | Jan 4, 2017

The making of visible experts: A path for seller-doers in the AEC industry

Exceptional seller-doers have the ability to ask the right questions, and more importantly, listen.

Building Team | Jan 3, 2017

How does your firm’s hit rate stack up to the AEC competition?

If your firm is not converting at least a third of project proposals when competing for new work, it may be time to reassess your marketing tactics and processes.

Contractors | Dec 22, 2016

New commercial building energy code released

The update includes a new compliance path and significant technical changes affecting building envelope, and mechanical and lighting systems.

Contractors | Oct 13, 2016

Contractors’ financial performance improved in 2015

The Construction Financial Management Association’s latest survey found gains across the board, but notable variances by the size of the companies.

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