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
| Jun 11, 2018
Accelerate Live! talk: AEC + Data + AI — Poison for some, elixir for others
In this 15-minute talk at BD+C’s Accelerate Live! conference (May 10, 2018, Chicago), predictive analytics expert David Morgareidge offers steps that AE firms can take today if they want to survive AECO digital transformation.
Education Facilities | Jun 8, 2018
Data is driving design for education
In gathering this constant flow of data and recognizing the shifting trends, how can educational institutions make informed choices and smart design decisions that lead to higher efficiency and improved control over capital budgets?
Architects | Jun 6, 2018
Chief of Staff of the Army honors SmithGroupJJR’s Philip Tobey with Outstanding Civilian Service Award
Tobey began his career as a captain and military architect at Headquarters, U.S. Air Force Office of the Surgeon General, with review responsibility for medical projects worldwide.
Architects | Jun 6, 2018
A modest boost in licensed architects in 2017
NCARB’s annual survey shows California and New York leading the pack.
Healthcare Facilities | Jun 6, 2018
French 'Alzheimer’s Village' designed to resemble a medieval bastide
The new facility will provide research on a new way of treating Alzheimer’s patients.
Architects | Jun 5, 2018
Michael Green Architecture joins Katerra
Michael green architecture is a globally recognized leader in mass timber architecture.
Architects | Jun 4, 2018
Changing the way we think about water and design
We have several gaps between the need and desire to have abundant, accessible, clean water and the reality of dealing with on-going and increasing water shortage crises.
Libraries | Jun 1, 2018
New library offers a one-stop shop for what society is craving: hands-on learning
Beyond lending books and DVDs, the Elkridge (Md.) branch library loans household tools like ladders, wheelbarrows, and sewing machines.
| May 30, 2018
Accelerate Live! talk: Seven technologies that restore glory to the master builder
In this 15-minute talk at BD+C’s Accelerate Live! conference (May 10, 2018, Chicago), AEC technophile Rohit Arora outlines emerging innovations that are poised to transform how we design and build structures in the near future.
| May 30, 2018
Accelerate Live! talk: Why the AEC industry must adapt to the Internet of Things boom
In this 15-minute talk at BD+C’s Accelerate Live! conference (May 10, 2018, Chicago), building systems expert Jeff Carpenter explores established and emerging IoT applications for commercial and institutional buildings, and offers a technology roadmap for navigating the IoT landscape.