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
| May 1, 2013
A LEGO lover's dream: Guide to building the world's iconic structures with LEGO
A new book from LEGO master builder Warren Elsmore offers instructions for creating scale models of buildings and landmarks with LEGO.
| May 1, 2013
New AISC competition aims to shape the future of steel
Do you have the next great idea for a groundbreaking technology, model shop or building that could potentially revolutionize the future of the steel design and construction industry? Enter AISC's first-ever Future of Steel competition.
| May 1, 2013
Data center construction remains healthy, but oversupply a concern
Facebook, Amazon, Microsoft, and Google are among the major tech companies investing heavily to build state-of-the-art data centers.
| May 1, 2013
Groups urge Congress: Keep energy conservation requirements for government buildings
More than 350 companies urge rejection of special interest efforts to gut key parts of Energy Independence and Security Act
| May 1, 2013
World’s tallest children’s hospital pushes BIM to the extreme
The Building Team for the 23-story Lurie Children’s Hospital in Chicago implements an integrated BIM/VDC workflow to execute a complex vertical program.
| Apr 30, 2013
Healthcare lighting innovation: Overhead fixture uses UV to kill airborne pathogens
Designed specifically for hospitals, nursing homes, child care centers, and other healthcare facilities where infection control is a concern, the Arcalux Health Risk Management System (HRMS) is an energy-efficient lighting fixture that doubles as a germ-killing machine.
| Apr 30, 2013
First look: North America's tallest wooden building
The Wood Innovation Design Center (WIDC), Prince George, British Columbia, will exhibit wood as a sustainable building material widely availablearound the globe, and aims to improve the local lumber economy while standing as a testament to new construction possibilities.
| Apr 26, 2013
Apple scales back Campus 2 plans to reduce price tag
Apple will delay the construction of a secondary research and development building on its "spaceship" campus in an attempt to drive down the cost of developing its new headquarters.
| Apr 26, 2013
Documentary shows 'starchitects' competing for museum project
"The Competition," a new documentary produced by Angel Borrego Cuberto of Madrid, focuses on the efforts of five 'starchitects' to capture the design contract for the new National Museum of Art of Andorra: a small country in the Pyrenees between Spain and France.
