Gilbane Building Co. has released the Fall 2012 edition of Construction Economics -- Market Conditions in Construction. Based on an array of economic data, construction starts, and material cost trends, this free report indicates an increase in construction spending over last year but cautions of an expected downturn again in early 2013. The Architectural Billings Index (ABI), which predicts activity 9-12 months out, indicates increasing spending nearly through the end of the year before another slowdown.
"Jobs continue to be the difficulty in this construction recovery. They are at a near standstill, while spending continues a slow climb," says Ed Zarenski, the report's author and a 40-year veteran of the construction industry. "A nugget of good news, though, is that climb may mean productivity is increasing. Spending is up only 2.5% since the beginning of the year, but up 6% from a year ago. Supported by positive growth trends, contractors may be able to recover a bit of lost margins."
According to the report, the construction industry has seen a small but continued growth in contractor's margins that started a very slow return to positive in 2011. Material price increases and labor cost growth will still contribute to escalation. Contractors' building costs "charged" in 2012 are above labor and material cost increases, signaling a continued movement towards recovery of more normalized margins.
Among the topics covered in this comprehensive report are:
- Construction Starts, Spending, & Costs
- Material Price Movement
- Trends and Costs for Structural Steel, Recycling Steel, & Copper
- Architectural Billings Index
- Current Inflation Forecast
- ENR Index -- BCI History
This free report is available for download at http://info.gilbaneco.com/construction-economics. +
Related Stories
Architects | May 26, 2020
AIA honors exceptional designs with its COTE Top Ten Awards
Projects integrate high design with advanced performance in ten key areas.
Coronavirus | May 22, 2020
COVID-19: Healthcare designers look to the future of medical facilities in light of coronavirus pandemic
The American College of Healthcare Architects (ACHA) has released the key findings of a survey of its members revealing their insights on the future of healthcare architecture and the role of design in the context of the COVID-19 healthcare crisis.
Coronavirus | May 18, 2020
Infection control in office buildings: Preparing for re-occupancy amid the coronavirus
Making workplaces safer will require behavioral resolve nudged by design.
Data Centers | May 8, 2020
Data centers as a service: The next big opportunity for design teams
As data centers compete to process more data with lower latency, the AEC industry is ideally positioned to develop design standards that ensure long-term flexibility.
Coronavirus | Apr 30, 2020
Gilbane shares supply-chain status of products affected by coronavirus
Imported products seem more susceptible to delays
Architects | Apr 23, 2020
Take a virtual tour of Frank Lloyd Wright's Robie House
Explore the building with Frank Lloyd Wright Trust curator David Bagnall.
Coronavirus | Apr 21, 2020
COVID-19 update: CallisonRTKL, Patriot, PODS, and USACE collaborate on repurposed containers for ACFs
CallisonRTKL and PODS collaborate on repurposed containers for ACFs
Multifamily Housing | Apr 15, 2020
Related Group picks Stantec to design and engineer Manor Miramar residences in Florida
Related Group picks Stantec to design and engineer Manor Miramar residences in Florida.
Coronavirus | Apr 4, 2020
COVID-19: Architecture firms churn out protective face shields using their 3D printers
Architecture firms from coast to coast have suddenly turned into manufacturing centers for the production of protective face shields and face masks for use by healthcare workers fighting the COVID-10 pandemic.
Coronavirus | Mar 30, 2020
Learning from covid-19: Campuses are poised to help students be happier
Overcoming isolation isn’t just about the technological face to face, it is about finding meaningful connection and “togetherness”.