Gilbane Building Company today announces the publication of the Winter 2012 edition of Construction Economics -- Market Conditions in Construction. Based on an array of economic data, construction starts, and material cost trends, this free report indicates an increase in construction spending over last year but cautions of an expected downturn again in early 2013.
According to the report, margins are up a slim 1% to 2% year over year for 2012. Once 2013 growth in nonresidential work picks up and both residential and nonresidential are active, the industry may begin to see some labor shortages and productivity losses, which will push up escalation. Also, as it did in 2012, even moderate growth in activity will allow contractors to pass along more material costs and increase margins.
Potential impact of recent events:
- According to the Associated General Contractors (AGC), Hurricane Sandy may not add any economic impact to the construction industry. For the most part, any funds directed to reconstruction will be diverted from some other potential or previously planned construction project and will be spread over a long time span.
- Bond issues considered in the recent elections amount to just over half ($30+ billion) of what was approved in 2008 elections ($60+ billion), signaling a reduction in publicly funded work.
- At the recent McGraw Hill Outlook conference, none of the economists expect the fiscal cliff to happen. However, sequestration or the compromises agreed upon will likely reduce funds available for federal and public projects.
Among the topics covered in this comprehensive report are:
- Construction Starts, Spending, & Costs
- Material Price Movement
- Trends and Costs for Structural Steel, Recycling Steel, & Copper
- Architectural Billings Index
- Current Inflation Forecast
- ENR Index -- BCI History
This free report is available for download at http://info.gilbaneco.com/construction-economics. +
Related Stories
Architects | Jun 24, 2019
Clayco combines architecture and design assets into one business unit
Lamar Johnson Collaborative adds BatesForum.
Architects | Jun 14, 2019
Making public facilities more public
Municipal facilities must strike a delicate balance between openness and security.
Architects | Jun 4, 2019
Big design, small budget: These are the best small projects for 2019
Bjarke Ingels Group's prototype mountainside cabin and Fieldwork's forest pedestrian bridges are among 12 projects honored by AIA's Small Project Practitioners group.
Architects | Apr 26, 2019
Designing for the final frontier: Space architecture
Colonizing Mars is an exciting possibility in the not-too-distant future, and architects will play a vital role in making it a reality, despite the plethora of challenges that need to be overcome.
Architects | Apr 12, 2019
Bipartisan 'Invest in America Act' gains industry support
The bill would attract as much as $125 billion investment for buildings, infrastructure.
Office Buildings | Apr 8, 2019
It’s time for office amenities to get to work
Amenities with the greatest impact on effectiveness and experience are those that directly support the work needs of individual employees and their teams.
Industry Research | Apr 8, 2019
New research finds benefits to hiring architectural services based on qualifications
Government agencies gain by evaluating beyond price, according to a new Dodge survey of government officials.
Architects | Mar 17, 2019
HMC Architects sets up a ‘design lab’ to explore new ideas
The goal is for project team members to collaborate earlier to inspire innovation.
Architects | Mar 12, 2019
Thrown a curve: Fitting a restaurant into spherical dome was the design challenge for Willmott’s Ghost
The Seattle eatery nests inside the conservatories on Amazon’s massive campus.
