Gilbane Building Company today announces the publication of the Winter 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.
According to the report, margins are up a slim 1% to 2% year over year for 2012. Once 2013 growth in nonresidential work picks up and both residential and nonresidential are active, the industry may begin to see some labor shortages and productivity losses, which will push up escalation. Also, as it did in 2012, even moderate growth in activity will allow contractors to pass along more material costs and increase margins.
Potential impact of recent events:
- According to the Associated General Contractors (AGC), Hurricane Sandy may not add any economic impact to the construction industry. For the most part, any funds directed to reconstruction will be diverted from some other potential or previously planned construction project and will be spread over a long time span.
- Bond issues considered in the recent elections amount to just over half ($30+ billion) of what was approved in 2008 elections ($60+ billion), signaling a reduction in publicly funded work.
- At the recent McGraw Hill Outlook conference, none of the economists expect the fiscal cliff to happen. However, sequestration or the compromises agreed upon will likely reduce funds available for federal and public projects.
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
AEC Tech | Oct 28, 2020
Meet Jaibot, Hilti's new construction robot
The semi-autonomous robot is designed to assist MEP contractors with ceiling-drilling applications.
Hotel Facilities | Oct 27, 2020
Hotel construction pipeline dips 7% in Q3 2020
Hospitality developers continue to closely monitor the impact the coronavirus will have on travel demand, according to Lodging Econometrics.
Data Centers | Oct 26, 2020
Speed to market is biggest obstacle for burgeoning data center construction sector
Hyperscale and edge computing are driving growth in data center and mission critical facilities construction.
Adaptive Reuse | Oct 26, 2020
Mall property redevelopments could result in dramatic property value drops
Retail conversions to fulfillment centers, apartments, schools, or medical offices could cut values 60% to 90%.
Multifamily Housing | Oct 15, 2020
L.A., all the way
KFA Architecture has hitched its wagon to Los Angeles’s star for more than 40 years.
Architects | Oct 14, 2020
The Weekly Show: AI for building facade inspections; designing a world-class architecture firm
The October 15 episode of BD+C's "The Weekly" is available for viewing on demand.
Coronavirus | Oct 8, 2020
The Weekly show: Statue of Liberty Museum, emotional learning in K-12, LA's climate change vulnerability
The October 8 episode of BD+C's "The Weekly" is available for viewing on demand.
Architects | Oct 8, 2020
Gensler’s annual report chronicles the firm’s ‘transformation’
The firm positions itself as a leading voice for how building design plays a central role in meeting society’s evolving demands.
Smart Buildings | Oct 1, 2020
Smart buildings stand on good data
The coming disruption of owning and operating a building and how to stay ahead through BIM.
Architects | Oct 1, 2020
BIG imagines how we could live on the moon
The architecture firm has partnered with ICON on the project.
