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

| Jul 15, 2014

Michael Graves talks with Washington Post about new design eye from life in a wheelchair

Celebrated American architect Michael Graves sits with the Washington Post to talk about how being on a wheelchair changed the way he focuses on design.

| Jul 15, 2014

A look into the history of modular construction

Modular construction is more than a century old, and throughout its lifespan, the methods have been readapted to meet specific needs of different eras.

| Jul 15, 2014

AECOM to buy URS Corporation in $6 billion deal

Together, the firms will form a massive global giant with more than $19 billion in revenue and 95,000 employees in 150 countries.

| Jul 15, 2014

Trade groups form task force to further transparency and optimization of building product ingredients

The Harmonization Task Group will offer marketplace benefits including consistent messaging, simplification, elimination of redundancies, and creation of more accurate, faster and less costly assessments.

All renderings courtesy Penda

| Jul 14, 2014

Meet the bamboo-tent hotel that can grow

Beijing-based design cooperative Penda designed a bamboo hotel that can easily expand vertically or horizontally.

Renderings courtesy of Studio Gang Architects

| Jul 11, 2014

First look: Jeanne Gang reinterprets San Francisco Bay windows in new skyscraper scheme

Chicago architect Jeanne Gang has designed a 40-story residential building in San Francisco that is inspired by the city's omnipresent bay windows.

| Jul 11, 2014

Are these LEGO-like blocks the future of construction?

Kite Bricks proposes a more efficient way of building with its newly developed Smart Bricks system.

| Jul 10, 2014

Unique design of Toronto's townhome The Tree House

Plans for a new Toronto townhome brings cutting-edge design.

Images courtesy of FLEXLAB

| Jul 10, 2014

Berkeley Lab opens 'world's most comprehensive building efficiency simulator'

DOE’s new FLEXLAB is a first-of-its-kind simulator that lets users test energy-efficient building systems individually or as an integrated system, under real-world conditions.

The JW Marriott Hanoi features an unusual cantilevered design, with a curled sha

| Jul 9, 2014

Dragon-inspired hotel conveys Vietnamese hospitality [2014 Building Team Awards]

An international Building Team unites to create Vietnam’s first JW Marriott luxury property.

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