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

D.C.'s Dunbar High School is world's highest-scoring LEED school, earns 91% of base credits

K-12 Schools | Feb 26, 2015

D.C.'s Dunbar High School is world's highest-scoring LEED school, earns 91% of base credits

The 280,000-sf school achieved 91 points, out of 100 base points possible for LEED, making it the highest-scoring school in the world certified under USGBC’s LEED for Schools-New Construction system.

Polish architect designs modular ‘kids city’ kindergarten using shipping container frames

K-12 Schools | Feb 25, 2015

Polish architect designs modular ‘kids city’ kindergarten using shipping container frames

Forget the retrofit of a shipping container into a building for one moment. Designboom showcases the plans of Polish architect Adam Wiercinski to use just the recycled frames of containers to construct a “kids city.”

Call for entries: 2015 Giants 300 survey

Building Team | Feb 24, 2015

Call for entries: 2015 Giants 300 survey

The annual Giants 300 Report ranks the top AEC firms in commercial construction, by revenue.

Starchitecture meets agriculture: OMA unveils design for Kentucky community farming facility

Industrial Facilities | Feb 24, 2015

Starchitecture meets agriculture: OMA unveils design for Kentucky community farming facility

The $460 million Food Port project will define a new model for the relationship between consumer and producer.

ABC economist: Year-end construction backlog drops 1%

Contractors | Feb 24, 2015

ABC economist: Year-end construction backlog drops 1%, but still outpaces 2013

Despite a quarter-over-quarter decline, the U.S. construction backlog ended the year at 8.7 months, 4.4% higher than one year ago.

Future-proofing educational institutions: 5 trends to consider

University Buildings | Feb 23, 2015

Future-proofing educational institutions: 5 trends to consider

In response to rapidly changing conditions in K-12 and higher education, institutions and school districts should consider these five trends to ensure a productive, educated future.

The importance of quiet and the consequences of distraction

Office Buildings | Feb 23, 2015

The importance of quiet and the consequences of distraction

Recent work style studies show that the average knowledge worker spends 25-35% of their time doing heads-down focused work. Once thrown off track, it can take some 23 minutes for a worker to return to the original task.

9 best practices for effective laser scanning

BIM and Information Technology | Feb 23, 2015

9 best practices for effective laser scanning

JE Dunn’s National BIM Director, Trent Nichols, offers tips and advice for mastering the art of laser scanning.

Edge construction: The future of modular

Modular Building | Feb 23, 2015

Edge construction: The future of modular

Can innovative project delivery methods, namely modular construction, bring down costs and offer a solution for housing in urban markets? FXFOWLE’s David Wallance discusses the possibilities for modular.

Rising Nonresidential Construction Index comes with struggles, FMI reports

Contractors | Feb 23, 2015

Rising Nonresidential Construction Index comes with struggles, FMI reports

Construction companies face the challenge of having enough people to keep up with increasing backlogs.

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