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

| Nov 26, 2013

Design-build downsized: Applying the design-build method in an era of smaller projects

Any project can benefit from the collaborative spirit and cooperative relationships embodied by design-build. But is there a point of diminishing return where the design-build project delivery model just doesn't make sense for small projects? Design-build expert Lisa Cooley debates the issue.

| Nov 25, 2013

Insider tips on how to get picked a BD+C 40 Under 40 winner

We just posted the Entry Form for our 9th Annual BD+C "40 Under 40" competition. Frankly, the Entry Form is just the basic data. The real meat of your entry is your Personal Statement.

| Nov 25, 2013

Electronic plan review: Coming soon to a city near you?

With all the effort AEC professionals put into leveraging technology to communicate digitally on projects, it is a shame that there is often one major road block that becomes the paper in their otherwise “paperless” project: the local city planning and permitting department. 

| Nov 22, 2013

Kieran Timberlake, PE International develop BIM tool for green building life cycle assessment

Kieran Timberlake and PE International have developed Tally, an analysis tool to help BIM users keep better score of their projects’ complete environmental footprints.

| Nov 20, 2013

Architecture Billings Index slows in October; project inquiries stay strong

Following three months of accelerating demand for design services, the Architecture Billings Index reflected a somewhat slower pace of growth in October. The October ABI score was 51.6, down from a mark of 54.3 in September.

| Nov 19, 2013

Pediatric design in an adult hospital setting

Freestanding pediatric facilities have operational and physical characteristics that differ from those of adult facilities.

| Nov 18, 2013

6 checkpoints when designing a pediatric healthcare unit

As more time and money is devoted to neonatal and pediatric research, evidence-based design is playing an increasingly crucial role in the development of healthcare facilities for children. Here are six important factors AEC firms should consider when designing pediatric healthcare facilities.

| Nov 18, 2013

How do construction professionals use social media?

LinkedIn is the social network used by most construction professionals, according to the results of a newly released national survey conducted by the Construction Marketing Association. 

| Nov 17, 2013

Meet up with the BD+C team at Greenbuild. Drinks are on us!

To all our friends in the AEC industry, you are cordially invited to join the BD+C team at several fun events during the Greenbuild show this week. No RSVP required. Just show up and enjoy. 

| Nov 15, 2013

Halls of ivy keep getting greener and greener

Academic institutions have been testing the limits of energy-conserving technologies, devising new ways to pay for sustainability extras, and extending sustainability to the whole campus.

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