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 | Apr 25, 2016
Notable architects design mini-golf holes for London Design Festival
Visionaries like Paul Smith, Mark Wallinger, and the late Zaha Hadid all helped in designing the course, which will be integrated into London’s Trafalgar Square.
University Buildings | Apr 25, 2016
New University of Calgary research center features reconfigurable 'spine'
The heart of the Taylor Institute can be anything from a teaching lab to a 400-seat theater.
Architects | Apr 22, 2016
What leads to success in the density-driven workplace?
CallisonRTKL’s Kirill Pivovarov explores how densification can lead to increased productivity and innovation in the workplace.
Government Buildings | Apr 22, 2016
Public-private partnership used to fund Long Beach Civic Center Project
Arup served as a lead advisor and oversaw financial, commercial, real estate, design, engineering, and cost consulting.
High-rise Construction | Apr 20, 2016
OMA reveals designs for its first Tokyo skyscraper
The goal is for the Toranomon Hills Station Tower to transform its neighborhood and serve as a hub for international business.
Architects | Apr 20, 2016
Bill Hellmuth named HOK’s new CEO
Hellmuth has been HOK's President since 2005. The firm will be led by a design principal for the first time since 1990.
Libraries | Apr 18, 2016
Best in Library Design: AIA names seven projects 2016 Library Building Awards winners
Snøhetta’s Ryerson University student center and the Billings (Mont.) Public Library by Will Bruder+Partners highlight the seven winning projects.
Architects | Apr 14, 2016
You can watch over 50 architectural documentaries on YouTube for free
The Arts & Culture Bureau YouTube channel offers architectural documentaries about structures and works that span thousands of years and dozens of locations
Senior Living Design | Apr 14, 2016
Creating a home for eldercare using the ‘Green House’ design concept
VOA Associates’ Douglas King offers design considerations in implementing the Green House concept in eldercare for continuing care retirement communities.
Industrial Facilities | Apr 13, 2016
Ford begins 10-year plan to centralize Dearborn, Mich., campus
The company said that it will rebuild 7.5 million sf of work space over a 10-year period, which will shift 30,000 employees from 70 buildings now into two primary locations.
