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

| Sep 1, 2016

COURTHOUSE GIANTS: A ranking of the nation's top courthouse design and construction firms

DLR Group, NBBJ, Hensel Phelps, Sundt Construction, AECOM, and Dewberry top Building Design+Construction’s annual ranking of the nation’s largest courthouse sector AEC firms, as reported in the 2016 Giants 300 Report.

| Aug 30, 2016

CONVENTION CENTER GIANTS: A ranking of the nation's top convention center sector design and construction firms

Gensler, LMN Architects, AECOM, Turner Construction Co., and WSP | Parsons Brinckerhoff top Building Design+Construction’s annual ranking of the nation’s largest convention center sector AEC firms, as reported in the 2016 Giants 300 Report.

BIM

BIM and Information Technology | Aug 30, 2016

BIM GIANTS: A ranking of the nation's top BIM design and construction firms

HOK, Perkins+Will, Turner Construction Co., The Whiting-Turner Contracting Co., Jacobs, and Thornton Tomasetti top Building Design+Construction’s annual ranking of the nation’s largest BIM AEC firms, as reported in the 2016 Giants 300 Report.

Virtual care team

Great Solutions | Aug 23, 2016

11 great solutions for the commercial construction market

A roll-up emergency department, next-gen telemedicine center, and biophilic cooling pods are among the AEC industry’s clever ideas and novel innovations for 2016.

| Aug 19, 2016

RECONSTRUCTION GIANTS: Facelifts give buildings new identities, even as they keep a few wrinkles

Reconstruction is always a balancing act between the client’s pro forma and what the building needs to be vibrant again.

| Aug 19, 2016

Top 110 Reconstruction Construction Firms

Gilbane Building Co., Turner Construction Co., and The Whiting-Turner Contracting Co. top Building Design+Construction’s annual ranking of the nation’s largest reconstruction sector construction and construction management firms, as reported in the 2016 Giants 300 Report.

| Aug 18, 2016

LOCAL GOVERNMENT GIANTS: A ranking of the nation’s top design and construction firms in local sector work

HOK, Stantec, Turner Construction Co.,Clark Group, AECOM and STV top Building Design+Construction’s annual rankings of the nation’s largest local government sector AEC firms, as reported in the 2016 Giants 300 Report.

| Aug 18, 2016

STATE GOVERNMENT GIANTS: A ranking of the nation’s top design and construction firms in state sector work

CannonDesign, Stantec, Turner Construction Co.,Mortensen Construction, WSP | Parsons Brinckerhoff and AECOM top Building Design+Construction’s annual rankings of the nation’s largest state government sector AEC firms, as reported in the 2016 Giants 300 Report.

Hotel Facilities | Aug 17, 2016

First of its kind tri-branded Marriott hotel under construction in downtown Nashville

The hotel will combine the AC Hotels, Residence Inn, and SpringHill Suites brands.

| Aug 15, 2016

SPORTS FACILITY GIANTS: New and renovated college sports venues - designed to serve students and the community

Schools are renovating existing structures or building new sports facilities that can serve the student body and surrounding community.

Top Articles

Construction Costs

Data center construction costs for 2024

Sustainability

Grimshaw launches free online tool to help accelerate decarbonization of buildings

Building Team

Registration open! 2024 Women in Residential+Commercial Construction Conference, September 18-20, Phoenix

More In Category

Construction Costs

Data center construction costs for 2024

Gordian’s data features more than 100 building models, including computer data centers. These localized models allow architects, engineers, and other preconstruction professionals to quickly and accurately create conceptual estimates for future builds. This table shows a five-year view of costs per square foot for one-story computer data centers.

Sustainability

Grimshaw launches free online tool to help accelerate decarbonization of buildings

Minoro, an online platform to help accelerate the decarbonization of buildings, was recently launched by architecture firm Grimshaw, in collaboration with more than 20 supporting organizations including World Business Council for Sustainable Development (WBCSD), RIBA, Architecture 2030, the World Green Building Council (WorldGBC) and several national Green Building Councils from across the globe.

University Buildings

University of Louisville Student Success Building will be new heart of engineering program

A new Student Success Building will serve as the heart of the newly designed University of Louisville’s J.B. Speed School of Engineering. The 115,000-sf structure will greatly increase lab space and consolidate student services to one location.

Healthcare Facilities

Watch on-demand: Key Trends in the Healthcare Facilities Market for 2024-2025

Join the Building Design+Construction editorial team for this on-demand webinar on key trends, innovations, and opportunities in the $65 billion U.S. healthcare buildings market. A panel of healthcare design and construction experts present their latest projects, trends, innovations, opportunities, and data/research on key healthcare facilities sub-sectors. A 2024-2025 U.S. healthcare facilities market outlook is also presented.

Most Popular Content