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 15, 2013

Pedia-Pod: A state-of-the-art pediatric building module

This demonstration pediatric treatment building module is “kid-friendly,” offering a unique and cheerful environment where a child can feel most comfortable. 

| Nov 15, 2013

Insurance rates continue to rise for U.S. construction firms

Pricing for contractors general liability, project-specific general liability, umbrella and excess liability, workers’ compensation, and residential construction insurance was up between 3% and 7% on average during the first half of the year, according to Marsh’s Construction Market Update—First Half 2013. 

| Nov 15, 2013

Metal makes its mark on interior spaces

Beyond its long-standing role as a preferred material for a building’s structure and roof, metal is making its mark on interior spaces as well. 

| Nov 13, 2013

Government work keeps green AEC firms busy

With the economy picking up, many stalled government contracts are reaching completion and earning their green credentials.

| Nov 13, 2013

First look: Renzo Piano's addition to Louis Kahn's Kimbell Art Museum [slideshow]

The $135 million, 101,130-sf colonnaded pavilion by the famed architect opens later this month. 

| Nov 11, 2013

4 trends driving the recovering commercial construction sector

Jones Lang LaSalle research reveals a four-point “new look” for the post-recession construction industry.

| Nov 8, 2013

Oversized healthcare: How did we get here and how do we right-size?

Healthcare facilities, especially our nation's hospitals, have steadily become larger over the past couple of decades. The growth has occurred despite stabilization, and in some markets, a decline in inpatient utilization.

| Nov 8, 2013

Can Big Data help building owners slash op-ex budgets?

Real estate services giant Jones Lang LaSalle set out to answer these questions when it partnered with Pacific Controls to develop  IntelliCommand, a 24/7 real-time remote monitoring and control service for its commercial real estate owner clients. 

| Nov 8, 2013

S+T buildings embrace 'no excuses' approach to green labs

Some science-design experts once believed high levels of sustainability would be possible only for low-intensity labs in temperate zones. But recent projects prove otherwise. 

| Nov 8, 2013

Net-zero bellwether demonstrates extreme green, multifamily style

The 10-unit zHome in Issaquah Highlands, Wash., is the nation’s first net-zero multifamily project, as certified this year by the International Living Future Institute.

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