flexiblefullpage
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
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.

Related Stories

Codes and Standards | Jul 12, 2022

USGBC sets out principles for LEED’s future

The U.S. Green Building Council recently published a report containing principles outlining how LEED will evolve.

Building Team | Jul 12, 2022

10 resource reduction measures for more efficient and sustainable biopharma facilities

Resource reduction measures are solutions that can lead to lifecycle energy and cost savings for a favorable return on investment while simultaneously improving resiliency and promoting health and wellness in your facility.

Office Buildings | Jul 12, 2022

Miami office tower nears completion, topping off at 55 stories

In Miami, construction of OKO Group and Cain International’s 830 Brickell office tower is nearing completion.

University Buildings | Jul 11, 2022

Student life design impacts campus wellness

As interior designers, we have the opportunity and responsibility to help students achieve deeper levels of engagement in their learning, social involvement, and personal growth on college campuses.

Museums | Jul 11, 2022

Denmark opens a museum that tells the stories of refugees worldwide

Located on the site of Denmark’s largest World War II refugee camp, the new Refugee Museum of Denmark, FLUGT, tells the stories of refugees from the camp as well as refugees worldwide. 

Codes and Standards | Jul 8, 2022

Inefficient supply chains, outdated project delivery systems hamper construction investment

Constructing and justifying the cost of physical assets such as a manufacturing plant is much more difficult than it was decades ago, according to a report by Steffen Fuchs, senior partner with McKinsey & Company.

Airports | Jul 8, 2022

Phoenix Sky Harbor Airport’s new terminal prioritizes passenger experience and sustainability

McCarthy Building Companies recently completed construction of the final concourse in Terminal 4 at Phoenix Sky Harbor International Airport.

Building Team | Jul 7, 2022

Report explores improving architect/contractor relationship

A new study by the American Institute of Architects and the Associated General Contractors of America focuses on improving the relationship between architects and contractors.

Airports | Jul 7, 2022

Love at first flight: The power of first impressions in airports

As architects, how we design a terminal and choreograph the passenger experience can stir up strong feelings.

Building Team | Jul 7, 2022

Amenity-rich rental property in Chicago includes seven-story atrium with vertical landscaping

The recently opened 198-unit Optima Lakeview luxury rental apartment building in Chicago is bursting with amenities such as the region’s first year-round rooftop pool, contact-free in-home package delivery, housekeeping services, on-site room service, fitness programming, and a virtual personal assistant.

boombox1
boombox2
native1

More In Category

Construction Costs

Data center construction costs for 2024

Gordian’s data features more than 100 building models, including computer data centers. These localized models allow architects, engineers, and other preconstruction professionals to quickly and accurately create conceptual estimates for future builds. This table shows a five-year view of costs per square foot for one-story computer data centers. 


Sustainability

Grimshaw launches free online tool to help accelerate decarbonization of buildings

Minoro, an online platform to help accelerate the decarbonization of buildings, was recently launched by architecture firm Grimshaw, in collaboration with more than 20 supporting organizations including World Business Council for Sustainable Development (WBCSD), RIBA, Architecture 2030, the World Green Building Council (WorldGBC) and several national Green Building Councils from across the globe.



Healthcare Facilities

Watch on-demand: Key Trends in the Healthcare Facilities Market for 2024-2025

Join the Building Design+Construction editorial team for this on-demand webinar on key trends, innovations, and opportunities in the $65 billion U.S. healthcare buildings market. A panel of healthcare design and construction experts present their latest projects, trends, innovations, opportunities, and data/research on key healthcare facilities sub-sectors. A 2024-2025 U.S. healthcare facilities market outlook is also presented.

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