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

| Feb 4, 2014

Must see: Student housing complex made with recycled shipping containers

Architect Christian Salvati's new structure is just the first step in bringing shipping container construction to New Haven, Conn.

| Jan 31, 2014

LEGO, Google partner to develop 3D modeling tool for LEGO structures

The free tool, called Build, allows Chrome users to create virtual 3D structures using any shape and color in the LEGO catalog. 

| Jan 31, 2014

Ultra-modern McDonald's restaurant voted one of world's best new buildings

This McDonald's, which is combined with a fuel station and recreation areas, was awarded the Best Commercial Building of the Year by architecture website ArchDaily.

| Jan 31, 2014

6 considerations for rehabbing student union buildings

Most colleges and universities feel pressure to offer the latest amenities in order to attract and retain the best and brightest students. While hauling in the bulldozer to create modern facilities is attractive in some regards, deciding to renovate can be just as effective and, in some cases, even preferable to new construction.

| Jan 30, 2014

Mayors of 10 metros unite to cut building-related climate pollution

Organizers say combined initiative could cut as much climate-change pollution as generated by 1 million cars every year, and lower energy bills by nearly $1 billion annually.

| Jan 30, 2014

See how architects at NBBJ are using computational design to calculate the best views on projects [video]

In an ideal world, every office employee would have a beautiful view from his or her desk. While no one can make that happen in real life, computational design can help architects maximize views from every angle.

| Jan 30, 2014

The evolving workplace: One designer's inspiration board

"Open office" has been a major buzzword for decades, and like any buzzword, some of the novelty has worn off. I don't believe we will abandon the open office, but I do think we need to focus on providing a dynamic mix of open and closed spaces.

| Jan 30, 2014

How reverse engineering nature can spur design innovation

It’s not enough to copy nature. Today’s designers need a deeper understanding of environmental nuance, from the biome in.

| Jan 30, 2014

What to expect in the metal building industry in 2014

Every year brings changes. This one won’t be any different. We’ll see growth in some areas, declines in others. Here’s a little preview of what we’ll be writing about 2014 when 2015 comes rolling in.

| Jan 30, 2014

What's in store for healthcare capital markets in 2014?

Despite the shake up stemming from the Affordable Care Act, 2014 will be an active year in healthcare capital markets, according to real estate experts from CBRE Healthcare.

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