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

| Oct 13, 2014

The mindful workplace: How employees can manage stress at the office

I have spent the last several months writing about healthy workplaces. My research lately has focused on stress—how we get stressed and ways to manage it through meditation and other mindful practices, writes HOK's Leigh Stringer.

| Oct 13, 2014

Debunking the 5 myths of health data and sustainable design

The path to more extensive use of health data in green building is blocked by certain myths that have to be debunked before such data can be successfully incorporated into the project delivery process.

| Oct 13, 2014

Department of Agriculture launches Tall Wood Building Competition

The competition invites U.S. developers, institutions, organizations, and design teams willing to undertake an alternative solution approach to designing and building taller wood structures to submit entries for a prize of $2 million. 

| Oct 12, 2014

AIA 2030 commitment: Five years on, are we any closer to net-zero?

This year marks the fifth anniversary of the American Institute of Architects’ effort to have architecture firms voluntarily pledge net-zero energy design for all their buildings by 2030. 

| Oct 10, 2014

A new memorial by Zaha Hadid in Cambodia departs from the expected

The project sees a departure from Hadid’s well-known use of concrete, fiberglass, and resin. Instead, the primary material will be timber, curved and symmetrical like the Angkor Wat and other Cambodian landmarks.

| Oct 9, 2014

Regulations, demand will accelerate revenue from zero energy buildings, according to study

A new study by Navigant Research projects that public- and private-sector efforts to lower the carbon footprint of new and renovated commercial and residential structures will boost the annual revenue generated by commercial and residential zero energy buildings over the next 20 years by 122.5%, to $1.4 trillion.

| Oct 9, 2014

More recession-postponed design projects are being resurrected, says AIA

About three quarters of the estimated 700 firms that serve as panelists on AIA’s Architectural Billings Index (ABI) had delayed or canceled major design projects in response to recessionary pressures. Nearly one-third of those firms now say they have since restarted stalled projects. 

| Oct 9, 2014

Steven Holl's 'intersecting spheres' scheme for Taipei necropolis gets green light

The schematic design has been approved for the 50 000-sm Arrival Hall and Oceanic Pavilion for the Taiwan ChinPaoSan Necropolis.

| Oct 9, 2014

Beyond the bench: Meet the modern laboratory facility

Like office workers escaping from the perceived confines of cubicles, today’s scientists have been freed from the trappings of the typical lab bench, writes Perkins+Will's Bill Harris.

| Oct 8, 2014

New tools for community feedback and action

Too often, members of a community are put into a reactive position, asked for their input only when a major project is proposed. But examples of proactive civic engagement are beginning to emerge, write James Miner and Jessie Bauters.

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