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

| Apr 8, 2014

40 Under 40 winners: Meet the contractors

Of the up-and-coming AEC professionals to be named to the class of 2014, nine make their living as contractors.

| Apr 2, 2014

The new model of healthcare facility management

A growing number of healthcare organizations are moving to an integrated real estate model in an effort to better manage costs, respond to regulatory requirements, and support changes in patient care delivery.

| Apr 2, 2014

8 tips for avoiding thermal bridges in window applications

Aligning thermal breaks and applying air barriers are among the top design and installation tricks recommended by building enclosure experts.

| Apr 1, 2014

Planned global commerce center breaks ground near Phoenix

When completed, PhoenixMart will be one of the largest single-level trade centers in the U.S. 

| Mar 31, 2014

Extreme conversion: Soaring Canadian church transformed into contemporary library

Even before the St. Denys-du-Plateau Church was converted into a library, it was an unusual building, with a towering nave designed to mimic a huge tent inflated by the wind. 

| Mar 28, 2014

Crazy commuting: British artist wants to construct 300-foot water slide on city street

Bristol-based artist Luke Jerram hopes that the temporary installation, once funded, will encourage the public to think about "how we want to use the city, and what sort of future we want to see.”

| Mar 27, 2014

Develop strategic thinkers throughout your firm

In study after study, strategic thinkers are found to be among the most highly effective leaders. But is there a way to encourage routine strategic thinking throughout an organization?

| Mar 27, 2014

16 kitchen and bath design trends for 2014

Work on multifamily housing projects? Here are the top kitchen and bath design trends, according to a survey of more than 420 kitchen and bath designers. 

| Mar 26, 2014

Callison launches sustainable design tool with 84 proven strategies

Hybrid ventilation, nighttime cooling, and fuel cell technology are among the dozens of sustainable design techniques profiled by Callison on its new website, Matrix.Callison.com. 

| Mar 26, 2014

First look: Lockheed Martin opens Advanced Materials and Thermal Sciences Center in Palo Alto

The facility will host advanced R&D in emerging technology areas like 3D printing, energetics, thermal sciences, and nanotechnology.

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