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

Healthcare planning in a post-ACA world: 3 strategies for success

Healthcare Facilities | Mar 16, 2015

Healthcare planning in a post-ACA world: 3 strategies for success

Healthcare providers are seeking direction on how to plan for a value-based world while still very much operating in a volume-based market. CBRE Healthcare's Curtis Skolnick offers helpful strategies.

Dubai Announces Construction of Aladdin City

Mixed-Use | Mar 13, 2015

Dubai announces mega waterfront development Aladdin City

Planned on 4,000 acres in the Dubai Creek area, the towers will be covered in gold lattice and connected via air-conditioned bridges.

Construction materials prices rise for first time in six months

Contractors | Mar 13, 2015

Construction materials prices rise for first time in six months

The largest monthly gain in petroleum prices in over three years caused construction materials prices to expand 0.4% in February, ending a six-month streak when prices failed to rise, according to the Bureau of Labor Statistics.

Construction Demand Exploding in 2015, But Costs Complicate Recovery

Contractors | Mar 12, 2015

Construction demand exploding in 2015, but costs complicate recovery

Raw materials and labor costs temper expectations for soaring profits.

Energy Trust of Oregon offers financial incentives for net-zero buildings

Codes and Standards | Mar 12, 2015

Energy Trust of Oregon offers financial incentives for net-zero buildings

The organization is offering technical assistance along with financial benefits.

Multifamily construction has been a boon to L.A.’s economy

Multifamily Housing | Mar 12, 2015

Multifamily construction has been a boon to L.A.’s economy

A new study finds that nearly one-quarter of Los Angeles’ population lived in rental homes and apartments in 2013, a number that undoubtedly has increased since.

Google plans to use robots, cranes to manipulate modular offices at its new HQ

BIM and Information Technology | Mar 11, 2015

Google plans to use robots, cranes to manipulate modular offices at its new HQ

Its visions of “crabots” accentuate the search-engine giant’s recent fascination with robotics and automation.

Foster + Partners wins bid for 2022 World Cup centerpiece stadium in Qatar

Sports and Recreational Facilities | Mar 11, 2015

Foster + Partners wins bid for 2022 World Cup centerpiece stadium in Qatar

Norman Foster described the design as “an exciting step forward in stadium design—it will be the first to break the mold of the free-standing suburban concept, and instead anticipates the grid of this future city.”

A 57-floor Chinese skyscraper was completed in 19 days

Modular Building | Mar 10, 2015

Must see: 57-story modular skyscraper was completed in 19 days

After erecting the mega prefab tower in Changsha, China, modular builder BSB stated, “three floors in a day is China’s new normal.”

Sponsored | Metals | Mar 10, 2015

Metal Building Systems: A Rising Star in the Market

A new report by the Metal Building Manufacturer's Association explains the entity's efforts in refining and extending metal building systems as a construction choice.

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