flexiblefullpage
billboard
interstitial1
catfish1
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
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.

Related Stories

University Buildings | Feb 18, 2015

Preparing for the worst: Campus security since Virginia Tech

Seven years after the mass shootings at Virginia Tech, colleges and universities continue to shake up their emergency communications and response capabilities to shootings and other criminal threats.

Office Buildings | Feb 18, 2015

Why the mobile workplace isn't always mobile

Perkins+Will’s Janice Barnes addresses the nuance in mobility types and explains the importance of defining terms upfront.

University Buildings | Feb 17, 2015

BD+C exclusive: How security is influencing campus design and construction

Campus crime—whether real or perceived—presents Building Teams with more opportunities for early-stage consultation with university clients. 

Multifamily Housing | Feb 17, 2015

California launches pilot program to finance multifamily retrofits for energy efficiency

The Obama Administration and the state of California are teaming with the Chicago-based MacArthur Foundation on a pilot program whose goal is to unlock Property-Assessed Clean Energy financing for multifamily housing.

Sponsored | Building Team | Feb 17, 2015

Why diversity matters

Companies in the top quartile for gender or racial and ethnic diversity are more likely to have financial returns above their national industry medians.

Sponsored | Modular Building | Feb 17, 2015

When lava flow in Hawaii threatens a public school district, officials turn to modular

Hawaii Modular Space, a Williams Scotsman company, designed temporary classroom space for the Pahoa and Keeau schools that would become displaced due to ongoing lava flow in Pahoa, Hawaii.

Healthcare Facilities | Feb 17, 2015

10 healthcare trends worth sharing

The rise of the medical home model of care and ongoing Lean value stream improvement are among the top healthcare industry trends.

High-rise Construction | Feb 17, 2015

Work begins on Bjarke Ingels' pixelated tower in Calgary

Construction on Calgary’s newest skyscraper, the 66-story Telus Sky Tower, recently broke ground. 

Contractors | Feb 13, 2015

Survey shows craft labor shortage may slow construction

32% of surveyed contract professionals said they will experience slow growth if their companies cannot reasonably meet the need for skilled labor and tradespeople.

Mixed-Use | Feb 13, 2015

First Look: Sacramento Planning Commission approves mixed-use tower by the new Kings arena

The project, named Downtown Plaza Tower, will have 16 stories and will include a public lobby, retail and office space, 250 hotel rooms, and residences at the top of the tower. 

boombox1
boombox2
native1

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.



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.

halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021