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
| Aug 8, 2014
Government Sector Giants: Public-sector construction slow, but stirring [2014 Giants 300 Report]
Improving energy performance of existing properties through targeted upgrades and large-scale reconstruction continues to be a federal priority, according to BD+C's 2014 Giants 300 Report.
Sponsored | | Aug 8, 2014
Setting guidelines for construction PDF documents across the AEC industry
Sasha Reed interviews two members of the coalition responsible for creating new Guidelines for Construction PDF Documents. SPONSORED CONTENT
Sponsored | | Aug 8, 2014
Safe and secure: Fire and security glazing solution for Plaquemines Parish Detention Center
When the designers at L. R. Kimball looked for an all-in-one clear, wire-free glazing solution that protects against fire, bullets and forced entry for the new Plaquemines Parish Detention Center, SAFTI FIRST supplied a complete single-source tested and listed assembly that was easy to install and maintenance-free.
| Aug 7, 2014
Office Sector Giants: ‘Flex’ reigns supreme in hot office construction market [2014 BD+C Giants 300 Report]
The adage “doing more with less” has become a byword for many businesses since the Great Recession, and clients are trying to maximize every precious inch, according to BD+C's 2014 Giants 300 Report.
| Aug 6, 2014
BIG reinvents the zoo with its 'Zootopia' natural habitat concept [slideshow]
Bjarke Ingels’ firm is looking to improve the 1960s-designed Givskund Zoo in Denmark by giving the animals a freer range to roam.
| Aug 6, 2014
The Dead Prize: A new award to recognize poorly designed buildings
If the film industry has its Razzie awards, architecture will have its Dead Prize, created by Architecture for Humanity co-founder Cameron Sinclair to recognize projects that actively harm the planet.
| Aug 6, 2014
25 projects win awards for design-build excellence
The 2014 Design-Build Project/Team Awards showcase design-build best practices and celebrate the achievements of owners and design-build teams in nine categories across the spectrum of horizontal and vertical construction.
| Aug 6, 2014
Multifamily Sector Giants: Younger consumers, Sunbelt renaissance energize multifamily housing [2014 Giants 300 Report]
Multifamily housing construction is expected to remain relatively strong throughout 2014. Starts picked up in 2013, with completions due to catch up this year, finally approaching pre-recession levels, according to BD+C's 2014 Giants 300 Report.
| Aug 5, 2014
Risk scanning: A new tool for managing healthcare facilities
Using well-known risk analytics applied to pre-existing facility data, risk scanning can provide a much richer view of facility condition more consistent with actual management decision making.
| Aug 5, 2014
Shigeru Ban-designed Aspen Art Museum will open doors to public this week
After 18 month of planning and construction, the museum will open its new Shigeru Ban-designed facility to the public on August 9.
