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

| Jun 19, 2014

Singapore's 'Tree House' vertical gardens break Guinness World Record

The high-rise development will have a 24,638-sf vertical garden, breaking a Guinness World Record.

| Jun 18, 2014

Design tips for Alzheimer care facilities

A new white paper from the Alzheimer’s Foundation of America and Perkins Eastman details best design practices for residential care settings for individuals living with Alzheimer’s disease. 

| Jun 18, 2014

Largest Passive House structure in the U.S. to be built in Oregon

Orchards at Orenco, a 57-unit affordable housing complex in Hillsboro, Oregon, is the first of a three-phase, three-building complex.

| Jun 18, 2014

SOM's twisting tower wins design competition for Sweden's tallest skyscraper

The skyscraper, which will reach 230 meters and is named Polstjärnan, or "The Pole Star," is to be built in Gothenburg, Sweden. 

| Jun 18, 2014

Study shows walkable urbanism has positive economic impact

Walkable communities have a higher GDP, greater wealth, and higher percentages of college grads, according to a new study by George Washington University.

| Jun 18, 2014

Arup uses 3D printing to fabricate one-of-a-kind structural steel components

The firm's research shows that 3D printing has the potential to reduce costs, cut waste, and slash the carbon footprint of the construction sector.

| Jun 17, 2014

Suffolk names Jeffrey Gouveia as President, Southeast Region

Exec with eight years of Florida experience will head regional team.

| Jun 17, 2014

Must see: If music were architecture in 27 illustrations

From Miles Davis to Björk to Manu Chao to Bach, Babina visualizes how these sounds will look like if they were visible in the form of architecture.

| Jun 17, 2014

Nation's largest Thai Buddhist temple opens near Boston

The $60 million facility built in honor of King Rama IX of Thailand is the largest Thai Buddhist temple outside of Thailand.

boombox1
boombox2
native1

More In Category




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