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
| Sep 23, 2014
Cedars-Sinai looks to streamline trauma care with first-of-its-kind OR360 simulation space
The breakthrough simulation center features moveable walls and a modular ceiling grid that allow doctors and military personnel to easily reconfigure the shape and size of the space.
| Sep 23, 2014
Third phase of New York’s High Line redevelopment opens
The $35 million Phase 3, known as High Line at the Rail Yards, broke ground September 20, 2012, and officially opened to the public on September 21.
| Sep 23, 2014
Cloud-shaped skyscraper complex wins Shenzhen Bay Super City design competition
Forget the cubist, clinical, glass and concrete jungle of today's financial districts. Shenzhen's new plan features a complex of cloud-shaped skyscrapers connected to one another with sloping bridges.
| Sep 23, 2014
Designing with Water: Report analyzes ways coastal cities can cope with flooding
The report contains 12 case studies of cities around the world that have applied advanced flood management techniques.
| Sep 22, 2014
4 keys to effective post-occupancy evaluations
Perkins+Will's Janice Barnes covers the four steps that designers should take to create POEs that provide design direction and measure design effectiveness.
| Sep 22, 2014
NCARB overhauls Intern Development Program, cuts years off licensure process
The newly adopted changes will be implemented in two phases. The first will streamline the program by focusing on the IDP’s core requirements and removing its elective requirements. The second phase will condense the 17 current experience areas into six practice-based categories.
| Sep 22, 2014
Biloxi’s new Maritime and Seafood Industry Museum is like a ship in a bottle
Nine years after the Museum of Maritime and Seafood Industry in Biloxi, Miss., was damaged by Hurricane Katrina’s 30-foot tidal surge, the museum reopened its doors in a brand new, H3-designed building.
| Sep 22, 2014
Swanke-designed Eurasia Tower opens in Moscow
The 72-story tower—the first mixed-use, steel tower in Russia—is located within the new, 30 million-sf, 148-acre Moscow International Business Center.
| Sep 22, 2014
USGBC names 2014 Best of Buildings Award winners
The Best of Building Awards celebrate the year’s best products, projects, organizations and individuals making an impact in green building.
| Sep 20, 2014
Healthcare conversion projects: 5 hard-earned lessons from our experts
Repurposing existing retail and office space is becoming an increasingly popular strategy for hospital systems to expand their reach from the mother ship. Our experts show how to avoid the common mistakes that can sabotage outpatient adaptive-reuse projects.