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

| Jun 19, 2012

JE Dunn Announces Changes to Midwest Executive Leadership Team

| Jun 15, 2012

Beck Group/Atlanta wins AGC Build Georgia Award

Site-specific safety plan, BIM analysis and third-party structural review contributed to successful implementation.

Alan T. Baldwin FAIA

| Jun 15, 2012

Baldwin joins Charlotte office of Perkins Eastman as principal

Experience in healthcare planning and design to expand national healthcare practice in South and Mid-Atlantic.

| Jun 15, 2012

InPro’s bio-content becomes Cradle-to-Cradle CertifiedCM Silver

Two main components of G2 Blend formula now C2C Certified Silver.

To view more of Kohn's watercolors, see the slideshow below.

| Jun 14, 2012

A. Eugene Kohn Watercolor Exhibition a showcase of KPF artwork in NYC

Kohn's watercolors have previously been displayed at the Guggenheim Museum in a show for the works of well-known architects.

| Jun 14, 2012

Gilbane names two new executive vice presidents

Dennis Cornick and Thomas Laird join Gilbane's executive team, expanding the company's leadership to drive business goals.

Daniel A. Viscardi, P.E.

| Jun 14, 2012

Viscardi joins LEO A DALY as VP, corporate director of aviation programs

Viscardi will be responsible for providing the vision and strategy for growing the firm’s aviation practice, identifying and establishing new clients, as well as maintaining existing client relationships.

Jerry Yudelson

| Jun 14, 2012

Sustainability consultant’s keynote highlights the evolution of LEED green building in Spain

Sustainability planning, green building and water efficiency consultant, Jerry Yudelson keynoted the celebration of Spain’s first LEED Platinum Municipal Green Building.

| Jun 13, 2012

Thornton Tomasetti founding principals receive CTBUH Fazlur R. Khan Lifetime Achievement Medal

This is the first time the CTBUH Board of Trustees has awarded the prize to two individuals jointly.

| Jun 13, 2012

Free webinar on Designing and Building Green Schools scheduled for June 20

USGBC Center for Green Schools and other experts to present practical tips.

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