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

Architecture Billings Index hits another bump

Market Data | Dec 15, 2015

AIA: Architecture Billings Index hits another bump

Business conditions show continued strength in South and West regions.

AEC leaders say the 'talent wars' are heating up: BD+C survey

Industry Research | Dec 8, 2015

AEC leaders say the 'talent wars' are heating up: BD+C exclusive survey

A new survey from Building Design+Construction shows that U.S. architecture, engineering, and construction firms are being stymied by the shortage of experienced design and construction professionals and project managers.

ABC: Continued growth expected for the construction industry

Market Data | Dec 7, 2015

2016 forecast: Continued growth expected for the construction industry

ABC forecasts growth in nonresidential construction spending of 7.4% in 2016 along with growth in employment and backlog.

FMI: Nonresidential construction in a slowdown, according to latest NRCI score

Contractors | Dec 2, 2015

FMI: Nonresidential construction in a slowdown, according to latest NRCI score

“Economic recovery momentum is losing steam and rising costs in labor and materials start to put a load on the industry,” said Chris Daum, President and CEO of FMI.

ABC releases scorecard on state policies affecting the construction industry

Contractors | Dec 2, 2015

ABC releases scorecard on state policies affecting the construction industry

The scorecard website identifies states that have good environments for merit shop contractors, like Arizona, and states that could improve conditions, like New York.

ABC: September's nonresidential spending retains momentum in October

Contractors | Dec 1, 2015

ABC: September's nonresidential spending retains momentum in October

Spending increased in 10 of 16 nonresidential construction sectors on a monthly basis.

Data centers turn to alternative power sources, new heat controls and UPS systems

Greenbuild Report | Dec 1, 2015

Data centers turn to alternative power sources, new heat controls and UPS systems

Data centers account for 2% of the nation’s electricity consumption and about 30% of the power used annually by the economy’s information and communications technology sector, according to the National Renewable Energy Laboratory.

The contractor’s role in promoting job site sustainability [AIA course]

Contractors | Dec 1, 2015

The contractor’s role in promoting job site sustainability [AIA course]

Robins & Morton’s Jackie Mustakas offers specific actions that contractors and construction managers can take to green every job site.

Contractors | Nov 30, 2015

Sundt Construction opens its own craft employee training center

The contractor's Center for Craft Excellence, in Phoenix, is in response to the labor shortages in the industry.

FMI survey: Millennials in construction industry are loyal, hard-working

Contractors | Nov 24, 2015

FMI survey: Millennials in construction get a bad rap, tend to be loyal, hard-working

While the stigma exists that Millennials are entitled, disloyal, and lazy, it appears that this is not true, according to a new report from FMI.

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