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
University Buildings | May 10, 2024
UNC Chapel Hill’s new medical education building offers seminar rooms and midsize classrooms—and notably, no lecture halls
The University of North Carolina at Chapel Hill has unveiled a new medical education building, Roper Hall. Designed by The S/L/A/M Collaborative (SLAM) and Flad Architects, the UNC School of Medicine’s new building intends to train new generations of physicians through dynamic and active modes of learning.
Sustainability | May 10, 2024
Perkins&Will’s first ESG report discloses operational performance data across key metrics
Perkins&Will recently released its first ESG report that discloses the firm’s operational performance data across key metrics and assesses its strengths and opportunities.
MFPRO+ News | May 10, 2024
HUD strengthens flood protection rules for new and rebuilt residential buildings
The U.S. Department of Housing and Urban Development (HUD) issued more stringent flood protection requirements for new and rebuilt homes that are developed with, or financed with, federal funds. The rule strengthens standards by increasing elevations and flood-proofing requirements of new properties in areas at risk of flooding.
Government Buildings | May 10, 2024
New federal buildings must be all-electric by 2030
A new Biden Administration rule bans the use of fossil fuels in new federal buildings beginning in 2030. The announcement came despite longstanding opposition to the rule by the natural gas industry.
Sustainable Development | May 10, 2024
Nature as the city: Why it’s time for a new framework to guide development
NBBJ leaders Jonathan Ward and Margaret Montgomery explore five inspirational ideas they are actively integrating into projects to ensure more healthy, natural cities.
Mass Timber | May 8, 2024
Portland's Timberview VIII mass timber multifamily development will offer more than 100 affordable units
An eight-story, 72,000-sf mass timber apartment building in Portland, Ore., topped out this winter and will soon offer over 100 affordable units. The structure is the tallest affordable housing mass timber building and the first Type IV-C affordable housing building in the city.
Architects | May 8, 2024
Ivan O’Garro, AIA joins LEO A DALY as a vice president
Integrated design firm LEO A DALY welcomes Ivan O’Garro, AIA, as a vice president and managing principal of its Atlanta studio.
K-12 Schools | May 7, 2024
World's first K-12 school to achieve both LEED for Schools Platinum and WELL Platinum
A new K-12 school in Washington, D.C., is the first school in the world to achieve both LEED for Schools Platinum and WELL Platinum, according to its architect, Perkins Eastman. The John Lewis Elementary School is also the first school in the District of Columbia designed to achieve net-zero energy (NZE).
Healthcare Facilities | May 6, 2024
Hospital construction costs for 2024
Data from Gordian breaks down the average cost per square foot for a three-story hospital across 10 U.S. cities.
Biophilic Design | May 6, 2024
The benefits of biophilic design in the built environment
Biophilic design in the built environment supports the health and wellbeing of individuals, as they spend most of their time indoors.