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

| Nov 7, 2012

Two Thornton Tomasetti projects receive 2012 International Architecture Awards for Best Global Design

The awards, presented by the Chicago Athenaeum Museum of Architecture Design, the European Center for Architecture Art Design, and Urban Studies and Metropolitan Arts Press, Ltd., recognize excellence in architecture and urban planning.

Honeywell employees offloading truck of donated first responder supplies in resp
| Nov 6, 2012

Honeywell donates first responder products for Hurricane Sandy relief and recovery efforts

Honeywell Humanitarian Relief Fund to provide aid to local employees affected by Hurricane Sandy.

| Nov 6, 2012

Uponor files patent infringement suit against Sioux Chief Manufacturing

Uponor is seeking damages and an injunction to prevent Sioux Chief from selling the PowerPEX F1960 Ring with Stop, which it believes violates Uponor’s patent.

| Nov 6, 2012

Simpson Strong-Tie donates $25K to hurricane support

The company will also be matching employees’ personal contributions to the Red Cross and other nonprofit disaster relief organizations.

The new signature tower in Shunde will be the tallest structure in the area, at
| Nov 6, 2012

Goettsch Partners designs new tower in Shunde, China

200-meter-tall building will be located between Guangzhou and Hong Kong.

Final rendering of the new steel processing facility for Kloeckner Metals.
| Nov 5, 2012

Brasfield & Gorrie awarded new steel processing facility for Kloeckner Metals

The construction will take place on a 16-acre greenfield site at ThyssenKrupp Industrial Park in Calvert.

The Millersville University housing, which will be designed in phases, will repl
| Oct 30, 2012

Lord, Aeck & Sargent announces four student life facility wins

Projects recognize the architecture firm’s expertise on a nationwide basis.

Fred Perpall
| Oct 30, 2012

The Beck Group announces CEO succession plan

Current Eastern Division Director and company veteran, Fred Perpall, named CEO.

The Kensington, a 27-story, 488,000-sf, mixed-use, residential building in Bosto
| Oct 30, 2012

Two-hour fire rated curtain wall passes CDC tests

CDC (Curtain Wall Design and Consulting) is an independent firm providing a wide range of building envelope design, engineering, and consulting services to design professionals nationwide.

| Oct 30, 2012

Wight & Company announces three hires

Expands team and adds staff to work on the UNO project.

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