flexiblefullpage

HORIZONTV FEATURING BD+C: WATCH EPISODES ON DEMAND AT HORIZONTV

Menu View Full Menu
Subscribe Here
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
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

| Feb 14, 2013

Firestone projects recognized for roofing excellence

Firestone Building Products has been awarded the 2012 RoofPoint Excellence in Design Award in two categories: Global Leadership and Advancing Sustainable Roofing.

Minneapolis is the latest major metro to require large commercial buildings to b
Smart Buildings | Feb 14, 2013

Minneapolis joins energy benchmarking trend for commercial buildings

Minneapolis is the latest major metro to require large commercial buildings to benchmark and disclose their energy and water use.

Mergers and acquisitions in the construction industry picked up steam in late 20
| Feb 8, 2013

Modest growth predicted for engineering, construction mergers

Small and mid-market deals and construction materials drive activity; U.S. is the most active individual nation.

Capital program owners grapple with concerns about project funding, staffing, re
| Feb 8, 2013

FMI/CURT 2012 Owner Study highlights construction industry challenges

Capital program owners grapple with concerns about project funding, staffing, regulations.

Photo: Pacific Medical Buildings - www.pacificmedicalbuildings.com
| Feb 6, 2013

RSMeans cost comparisons: office buildings and medical offices

RSMeans' February 2013 Cost Comparison Report breaks down the average construction costs per square foot for four types of office buildings across 25 metro markets.

Arcadia (Calif.) High School opens $20 million performing arts center
| Feb 6, 2013

Arcadia (Calif.) High School opens $20 million performing arts center

A 60-year old wish for the community of Arcadia has finally come true with the opening of Arcadia Unified School District’s new $20 million Performing Arts Center.

| Feb 1, 2013

Hoar Program Management wins Airbus manufacturing facility job in Mobile, Ala.

The Opus Group completes construction of corporate HQ for Church & Dwight Co
| Jan 31, 2013

The Opus Group completes construction of corporate HQ for Church & Dwight Co.

The Opus Group announced today the completion of construction on a new 250,000-square-foot corporate headquarter campus for Church & Dwight Co., Inc., in Ewing Township, near Princeton, N.J.

Map of U.S. illustrates planning times for commercial construction
| Jan 31, 2013

Map of U.S. illustrates planning times for commercial construction

Stephen Oliner, a UCLA professor doing research for the Federal Reserve Board, has made the first-ever estimate of planning times for commercial construction across the United States.

| Jan 30, 2013

Deadline for BUILDINGChicago proposals extended to Friday, Feb 15

boombox1
boombox2

Top Articles

native1

More In Category

Great Solutions

41 Great Solutions for architects, engineers, and contractors

AI ChatBots, ambient computing, floating MRIs, low-carbon cement, sunshine on demand, next-generation top-down construction. These and 35 other innovations make up our 2024 Great Solutions Report, which highlights fresh ideas and innovations from leading architecture, engineering, and construction firms.

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