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

| Jul 11, 2012

Skanska relocates its Philadelphia metro office

Construction firm’s new 19,100-sf office targets LEED Gold certification.

| Jul 9, 2012

Modular Construction Delivers Model for New York Housing in Record Time

A 65-unit supportive housing facility in Brooklyn, N.Y., was completed in record time using modular construction with six stories set in just 12 days.

| Jul 9, 2012

Integrated Design Group completes UCSB data center

Firm uses European standard of power at USCB North Hall Research Data Center.

| Jul 9, 2012

Oakdale, Calif., Heritage Oaks Senior Apartments opens

New complex highlights senior preferences for amenities.

| Jul 3, 2012

Trimble to acquire WinEstimator

Acquisition adds estimating software solutions to Meridian Systems’ portfolio.

| Jul 3, 2012

Summit Design+Build completes Emmi Solutions HQ

The new headquarters totals 20,455 sq. ft. and features a loft-style space with exposed masonry and mechanical systems, 17-ft clear ceilings, two large rooftop skylights, and private offices with full glass partition walls.

| Jul 3, 2012

TOLK now called Dewberry

The renaming indicates a simplification in Dewberry’s corporate naming conventions.

| Jul 2, 2012

Bernards building mixed-use project in Beverly Hills

The project includes 88 luxury apartment homes atop a 14,000-sf Trader Joe’s market and a new coffee shop.

| Jul 2, 2012

San Francisco lays claim to the greenest building in North America

The 13-floor building can hold around 900 people, but consumes 60% less water and 32% less energy than most buildings of its kind.

| Jul 2, 2012

Plumosa School of the Arts earns LEED Gold

Education project dedicated to teaching sustainability in the classroom.

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