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

In 2007 after fire destroyed an office building on the Knauf Insulation corporat
| May 15, 2012

Don’t be insulated from green building

Examining the roles of insulation and manufacturing in sustainability’s growth.

| May 15, 2012

National Tradesmen Day set for Sept. 21

IRWIN Tools invites the nation to honor "The Real Working Hands that Build America and Keep it Running Strong".

| May 15, 2012

SAGE Electrochromics to become wholly owned subsidiary of Saint-Gobain

This deal will help SAGE expand into international markets, develop new products and complete construction of the company’s new, state-of-the-art manufacturing facility in Faribault, Minn.

| May 14, 2012

Codes harvest rainwater

IAPMO’s Green Plumbing and Mechanical Code Supplement could make rainwater harvesting systems commonplace by clearly outlining safe installation and maintenance practices.

| May 14, 2012

Plumbing research coalition to study drainline transport issue

The effort is aimed at determining if decreasing levels of water flow­­––caused by increasingly efficient plumbing fixtures––are sufficient to clear debris from plumbing pipes.

The 4.2-million-sf (389,980-square-meters) project has been designed to LEED go
| May 14, 2012

SOM to break ground on supertall structure in China

The 1,740-feet (530-meter) tall tower will house offices, 300 service apartments and a 350-room, 5-star hotel beneath an arched top.

Towers 1 and 2about 450 meters and 390 meters tall, respectivelyshare an archi
| May 14, 2012

Adrian Smith + Gordon Gill Architecture design Seoul’s Dancing Dragons

Supertall two-tower complex located in Seoul’s Yongsan International Business District.

| May 14, 2012

SMPS and Deltek announce alliance

A/E/C industry leaders partner to advance technology’s role in design firm marketing and business development.

| May 14, 2012

ArchiCAD e-Specs integration unveiled

Architects, engineers and construction professionals use InterSpec’s e-SPECS products on thousands of projects annually to maintain synchronization between construction models, drawings, and project specifications.

| May 11, 2012

2012 White Paper: High-Performance Reconstructed Buildings: The 99% Solution

Download the complete White Paper, Chapters 1-10

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