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 6, 2012

Slight increase in nonres construction spending expected in 2012, growth projected for 2013

Commercial sector expected to lead real estate recovery.

| Feb 6, 2012

FMI releases 2012 Construction Productivity Report

Downsizing has resulted in retaining the most experienced and best-trained personnel who are the most capable of working more efficiently and harder.

| Feb 6, 2012

Kirchhoff-Consigli begins Phase 2 renovations at FDR Presidential Library and Museum

EYP Architecture & Engineering is architect for the $35 million National Archives Administration project.

Randy Hall
| Feb 6, 2012

Batson-Cook announces the appointment of Hall as president

Hall will manage and direct all aspects of the firm’s day-to-day operations. He will be based in Batson-Cook’s Atlanta office.

| Feb 6, 2012

Siemens gifts Worcester Polytechnic Institute $100,000 for fire protection lab renovation

Siemens support is earmarked for the school’s Fire Protection Engineering Lab, a facility that has been forwarding engineering and other advanced degrees, graduating fire protection engineers since 1979.

| Feb 2, 2012

Call for Entries: 2012 Building Team Awards. Deadline March 2, 2012

Winning projects will be featured in the May issue of BD+C. 

| Feb 2, 2012

VLK Architects selected for new Cypress, Texas elementary school

The Bridgeland Elementary School will be a new prototype school for the District. Designed to meet the requirements of The Collaborative for High Performance Schools.

| Feb 2, 2012

Mortenson Construction to build 2.4 MW solar project in North Carolina

Located on a 12 acre site in the Sandhills region, the 2.4 megawatt (MW) system is expected to generate approximately 3.5 million kilowatt hours (kWhs) of clean electricity on an annual basis.

| Feb 2, 2012

Shawmut Design and Construction launches sports venues division

Expansion caps year of growth for Shawmut.

| Feb 2, 2012

Fire rated glazing helps historic university preserve its past

When the University embarked on its first major addition since the opening of Hutchins Hall in 1933, preserving the Collegiate Gothic-style architecture was of utmost importance.

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