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 | Jan 27, 2015

London plans to build Foggo Associates' 'can of ham' building

The much delayed high-rise development at London’s 60-70 St. Mary Axe resembles a can of ham, and the project's architects are embracing the playful sobriquet.

Multifamily Housing | Jan 22, 2015

Sales of apartment buildings hit record high in 2014

Investors bet big time on demand for rental properties over homeownership in 2014, when sales of apartment buildings hit a record $110.1 billion, or nearly 15% higher than the previous year.

| Jan 21, 2015

From technician to rainmaker: Making the leap in your career

Many AEC firms focus on training for the hard skills of the profession, not so much for business prowess, writes BD+C's David Barista.

Modular Building | Jan 21, 2015

Chinese company 3D prints six-story multifamily building

The building components were prefabricated piece by piece using a printer that is 7 meters tall, 10 meters wide, and 40 meters long. 

| Jan 21, 2015

Tesla Motors starts construction on $5 billion battery plant in Nevada

Tesla Motors’ “gigafactory,” a $5 billion project on 980 acres in Sparks, Nev., could annually produce enough power for 500,000 electric cars.

| Jan 20, 2015

Daring hotel design scheme takes the shape of cut amethyst stone

The Dutch practice NL Architects designed a proposal for a chain of hotels shaped like a rock cut in half to reveal a gemstone inside. 

| Jan 20, 2015

Avery Associates unveils plans for London's second-tallest tower

The 270-meter tower, dubbed the No. 1 Undershaft, will stand next to the city's "Cheesegrater" building.

| Jan 19, 2015

HAO unveils designs for a 3D movie museum in China

New York-based HAO has released designs for the proposed Bolong 3D Movie Museum & Mediatek in Tianjin.

| Jan 19, 2015

Gaudi’s first work outside Spain will be a chapel in Chile

Nearly 100 years after Antoni Gaudí’s death, Chile will begin constructing a chapel using his designs.

| Jan 19, 2015

Architecture for Humanity closes office, plans to file for bankruptcy

After more than 15 years of work, the nonprofit design group Architecture for Humanity has closed its San Francisco office and plans to file for Chapter 7 bankruptcy protection.

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