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

High-rise Construction | Jul 9, 2013

5 innovations in high-rise building design

KONE's carbon-fiber hoisting technology and the Broad Group's prefab construction process are among the breakthroughs named 2013 Innovation Award winners by the Council on Tall Buildings and Urban Habitat.

| Jul 8, 2013

RSMeans cost comparisons: offices, daycare centers, convenience stores, fast food

Construction market analysts from RSMeans offer construction costs per square foot for offices, daycare centers, convenience stores, fast food.

| Jul 8, 2013

RSMeans cost comparisons: hotels, motels, and apartment buildings

Construction market analysts from RSMeans offer construction costs per square foot for hotels, motels, and apartment buildings. 

| Jul 3, 2013

Mid-year special: Top 13 stories for 2013 (so far)

Every six months, we like to take a look back at the stories that generated the most interest from our readers. Here's a roundup of the top 13 articles on BDCnetwork.com for the first six months of 2013. 

| Jul 3, 2013

World's biggest freestanding building opens in China

Measuring a stout 100 meters high, 500 meters long, and 400 meters wide, the New Century Global Centre in the Tianfu New District of Chengdu, China, is officially the world's largest freestanding building.

| Jul 3, 2013

Mall of America will double in size after $2.5 billion expansion

The nation's largest indoor mall will undergo a $2.5 billion, 10-year expansion project that will add attractions like an NHL-sized skating rink and an indoor water park. 

| Jul 2, 2013

LEED v4 gets green light, will launch this fall

The U.S. Green Building Council membership has voted to adopt LEED v4, the next update to the world’s premier green building rating system.

| Jul 1, 2013

Brasfield & Gorrie expands footprint in the Southeast

 Brasfield & Gorrie, one of the nation’s largest privately held construction firms, opens the doors to its new office in Columbus, Georgia, today. Although the firm has worked in the area for more than 20 years, this is its first office within the city’s limits.

| Jul 1, 2013

Lovejoy is new Director of Business Development, Healthcare at McCarthy

McCarthy Building Companies, Inc., one of California’s preeminent builders, announced that Jeffrey Lovejoy has joined the firm as director of business development, healthcare services.  Lovejoy replaces Scott Lawrence who has moved into the role of project director, commercial services for McCarthy.

| Jul 1, 2013

Firestone Building Products Company LLC Announces Sustainability Report

Firestone Building Products Company, LLC, the leading manufacturer of superior “Roots to Rooftops” products for commercial building performance solutions, today announced the release of its 2012 Sustainability Report. The report, the first for Firestone Building Products Company, covers the fiscal 2012 year and is available for download at firestonebpco.com.

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

Â