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
| Jan 9, 2014
How security in schools applies to other building types
Many of the principles and concepts described in our Special Report on K-12 security also apply to other building types and markets.
| Jan 9, 2014
16 recommendations on security technology to take to your K-12 clients
From facial recognition cameras to IP-based door hardware, here are key technology-related considerations you should discuss with your school district clients.
| Jan 9, 2014
Harley Ellis Devereaux, BFHL Architects announce merger
Effective January 1, 2014, Ralph Lotito and Brett Paloutzian have merged BFHL, comprising 15 healthcare architects, with Harley Ellis Devereaux. A national architecture and engineering firm in practice since 1908, Harley Ellis Devereaux has offices in Chicago, Detroit, Los Angeles, San Diego and San Francisco, CA.
| Jan 9, 2014
Special report: Can design prevent another Sandy Hook?
Our experts say no, but it could save lives. In this report, they offer recommendations on security design you can bring to your K-12 clients to prevent, or at least mitigate, a Sandy Hook on their turf.
| Jan 8, 2014
Dan Noble succeeds H. Ralph Hawkins as president/CEO of HKS
H. Ralph Hawkins, FAIA, FACHA, LEED AP,current chairman, president and CEO, named Dan Noble FAIA, FACHA, LEED AP, his successor as president and CEO, effective January 1, 2014. Jeff Stouffer, AIA, will succeed Craig Beale, FAIA, FACHA, FACHE, as director of the firm's healthcare practice.
| Jan 8, 2014
Architect sentenced to a year in jail for firefighter's death
Architect Gerhard Becker was sentenced to a year in LA county jail after pleading no contest to the manslaughter of a firefighter who died while trying to contain a fire in a home the architect had designed for himself.
| Jan 7, 2014
Concrete solutions: 9 innovations for a construction essential
BD+C editors offer a roundup of new products and case studies that represent the latest breakthroughs in concrete technology.
Smart Buildings | Jan 7, 2014
9 mega redevelopments poised to transform the urban landscape
Slowed by the recession—and often by protracted negotiations—some big redevelopment plans are now moving ahead. Here’s a sampling of nine major mixed-use projects throughout the country.
| Jan 6, 2014
What is value engineering?
If you had to define value engineering in a single word, you might boil it down to "efficiency." That would be one word, but it wouldn’t be accurate.
| Jan 6, 2014
Green Building Initiative names Jerry Yudelson as new President
The Green Building Initiative announced today that it has named Jerry Yudelson as its president to accelerate growth of the non-profit and further leverage its green building assessment tools, including the highly recognized Green Globes rating system.
