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
| Apr 19, 2013
Is LED lighting keeping its promises?
Lighting experts debate the benefits, drawbacks, and issues related to specifying LED fixtures.
| Apr 19, 2013
Must see: Shell of gutted church on stilts, 40 feet off the ground
Construction crews are going to extremes to save the ornate brick façade of the Provo (Utah) Tabernacle temple, which was ravaged by a fire in December 2010.
| Apr 18, 2013
Survey seeks info from managers of high-tech facilities
The International Institute for Sustainable Laboratories (I2SL), and Laney College in Oakland California, a National Science Foundation-funded Building Efficiency for a Sustainable Tomorrow (BEST) Center, are collaborating to identify education and training needs and strategies for high-tech facility operators.
| Apr 18, 2013
SOM, CASE team up to launch crowd-sourced apps library
SOM and CASE have formally launched AEC-APPS, the first crowd-sourced, web-based library for applications used by architects, engineers and construction professionals. This is a one-of-a-kind initiative in the AEC Industry and is a non-profit online community that allows digital tool users and toolmakers to share ideas, tips and resources.
| Apr 18, 2013
Calatrava projects encounter issues with water, structure, Guardian says
A dozen years after Calatrava built the spectacular Ysios winery in the rainy Alava region of northern Spain, the building's dramatic, undulating roof continues to let in the damp.
| Apr 17, 2013
Frank Lloyd Wright's Park Avenue showroom demolished
New York loses another architectural gem by Frank Lloyd Wright as new owner razes auto showroom.
| Apr 17, 2013
First look: Renzo Piano's glass-domed motion pictures museum
The Academy of Motion Picture Arts and Sciences last week released preliminary plans for its $300 million Academy of Motion Picture Arts and Sciences museum in Los Angeles, designed by Renzo Piano and local architect Zoltan Pali.
| Apr 16, 2013
5 projects that profited from insulated metal panels
From an orchid-shaped visitor center to California’s largest public works project, each of these projects benefited from IMP technology.
| Apr 16, 2013
AIA/NCARB survey shows rosier picture for emerging professionals
In 2010, the AIA/NCARB Internship and Career Survey of emerging professionals took a snapshot of young designers during a time ofintense economic contraction, when they were often the first to suffer. But in the two years since, emerging professionals have begun experiencing a rebound.