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
| Jul 24, 2014
Glazing options in correctional and detention facilities
Like it or not, the number of incarcerated people in the U.S. continues to rise. With that, increased security in all aspects of these facilities continues to be a priority. This is where security glazing products that allow line of sight for supervisors to observe and still maintain secure separation can play a key role. SPONSORED CONTENT
| Jul 23, 2014
Holistic care model, regulatory changes make outpatient facilities a high priority [2014 Giants 300 Report]
With the Affordable Care Act still in its infancy, Building Teams are seeing reverberations in the investment decisions of healthcare providers, including new ideas about the types of buildings they are asked to create.
| Jul 23, 2014
Meet Acquario Ceará: The giant crustacean-shaped aquarium that's causing concerns
A new aquarium on Brazil's northeastern coast is designed, engineered, constructed and financed by U.S. firms and institutions.
| Jul 23, 2014
Top Healthcare Sector Construction Firms [2014 Giants 300 Report]
Turner, McCarthy, and Skanska USA top Building Design+Construction's 2014 ranking of the largest healthcare contractors and construction management firms in the U.S.
| Jul 23, 2014
Top Healthcare Sector Engineering Firms [2014 Giants 300 Report]
AECOM, Jacobs, and URS Corp. top Building Design+Construction's 2014 ranking of the largest healthcare engineering and engineering/architecture firms in the U.S.
| Jul 23, 2014
Top Healthcare Sector Architecture Firms [2014 Giants 300 Report]
HDR, Stantec, and HKS top Building Design+Construction's 2014 ranking of the largest healthcare architecture and architecture/engineering firms in the U.S.
| Jul 23, 2014
Tallest skyscraper in South Korea now open
The Northeast Asia Trade Tower stands at 308 meters and is the focal point of the Songdo International Business District, a new 310-hectare city built on reclaimed land.
| Jul 23, 2014
Architecture Billings Index up nearly a point in June
AIA reported the June ABI score was 53.5, up from a mark of 52.6 in May.
| Jul 22, 2014
L.A.'s tallest tower to get observation deck
U.S. Bank Tower, as part of a series of improvements, will be getting an observation deck and restaurant at its top.
| Jul 22, 2014
Herzog & de Meuron unveil curvy concrete condo in Manhattan
Herzog & de Meuron have released renderings of their new $250 million New York building, a 12-story condominium with 88 luxury apartments.