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

Dont touch the ivyits historic! The U40 Leadership Summit participants assemb
| Nov 11, 2012

Under40 Leadership Summit draws 71 young leaders to Chicago

More than 70 young—that is, under age 40—architects, engineers, and construction professionals descended on Chicago in early October with one thought in mind: to learn how to “create with clarity.”

Workers repair a failed glass curtain wall. As glazed curtain walls age, many o
| Nov 11, 2012

AIA: Building Envelope

Preventing and treating failure in glazed curtain wall systems. Earn 1.0 AIA/CES learning units by studying this article and successfully completing the online exam.

A ceiling-high stone fireplace framed by rustic wooden logs was created by artis
| Nov 11, 2012

Greenbuild 2012 Report: Hospitality

Hotel boom signals good news for greener lodging facilities

The 15,000-sf 911 facility in Morris, Ill., designed and built by Wight & Co. fo
| Nov 11, 2012

Greenbuild 2012 Report: Government & Military

Public sector remains a bastion of sustainability

The Edwin and Nancy Van Brunt Central Energy Plant, which powers the entire 34-a
| Nov 11, 2012

Greenbuild 2012 Report: Healthcare

Green medical facilities extend beyond hospital walls

The LEED Platinum-rated Panama Commons, in Panama City, Fla., is a community of
| Nov 11, 2012

Greenbuild 2012 Report: Multifamily

Sustainably designed apartments are apples of developers’ eyes

The LEED Platinum, net-zero-ready campus police substation at Miramar College, a
| Nov 11, 2012

Greenbuild 2012 Report: Higher Education

More and more colleges and universities see sustainainably designed buildings as a given

College Park Elementary School, Virginia Beach, Va., has an integrated wetland g
| Nov 11, 2012

Greenbuild 2012 Report: K-12

High-performance schools put ‘sustainability’ in the lesson plan

Net-zero energy Health Professions & Student Services Building, North Shore Comm
| Nov 11, 2012

Greenbuild 2012 Report

Enter the new era of ‘disclosure and transparency’

The architectural design competition was led by developer Guangxi Wei Zhuang Rea
| Nov 7, 2012

John Portman & Associates awarded new high rise in China

108-story building to rise in Nanning, the Capital City of Guangxi Province.

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