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
Giants 400 | Sep 12, 2023
Top 75 Retail Sector Engineering and Engineering Architecture (EA) Firms for 2023
Kimley-Horn, Henderson Engineers, Jacobs, and EXP head BD+C's ranking of the nation's largest retail building engineering and engineering/architecture (EA) firms for 2023, as reported in the 2023 Giants 400 Report. Note: This ranking factors revenue for all retail buildings work, including big box stores, cineplexes, entertainment centers, malls, restaurants, strip centers, and theme parks.
Giants 400 | Sep 11, 2023
Top 140 Retail Sector Architecture and Architecture Engineering (AE) Firms for 2023
Gensler, Arcadis, Core States Group, WD Partners, and NORR top BD+C's ranking of the nation's largest retail sector architecture and architecture engineering (AE) firms for 2023, as reported in the 2023 Giants 400 Report. Note: This ranking factors revenue for all retail buildings work, including big box stores, cineplexes, entertainment centers, malls, restaurants, strip centers, and theme parks.
Resiliency | Sep 11, 2023
FEMA names first communities for targeted assistance on hazards resilience
FEMA recently unveiled the initial designation of 483 census tracts that will be eligible for increased federal support to boost resilience to natural hazards and extreme weather. The action was the result of bipartisan legislation, the Community Disaster Resilience Zones Act of 2022. The law aims to help localities most at risk from the impacts of climate change to build resilience to natural hazards.
MFPRO+ Research | Sep 11, 2023
Conversions of multifamily dwellings to ‘mansions’ leading to dwindling affordable stock
Small multifamily homes have historically provided inexpensive housing for renters and buyers, but developers have converted many of them in recent decades into larger, single-family units. This has worsened the affordable housing crisis, say researchers.
Engineers | Sep 8, 2023
Secrets of a structural engineer
Walter P Moore's Scott Martin, PE, LEED AP, DBIA, offers tips and takeaways for young—and veteran—structural engineers in the AEC industry.
Healthcare Facilities | Sep 8, 2023
Modern healthcare interiors: Healing and care from the outside in
CO Architects shares design tips for healthcare interiors, from front desk to patient rooms.
Designers | Sep 5, 2023
Optimizing interior design for human health
Page Southerland Page demonstrates how interior design influences our mood, mental health, and physical comfort.
K-12 Schools | Sep 5, 2023
CHPS launches program to develop best practices for K-12 school modernizations
The non-profit Collaborative for High Performance Schools (CHPS) recently launched an effort to develop industry-backed best practices for school modernization projects. The Minor Renovations Program aims to fill a void of guiding criteria for school districts to use to ensure improvements meet a high-performance threshold.
Market Data | Sep 5, 2023
Nonresidential construction spending increased 0.1% in July 2023
National nonresidential construction spending grew 0.1% in July, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.08 trillion and is up 16.5% year over year.
Sports and Recreational Facilities | Sep 1, 2023
New Tennessee Titans stadium conceived to maximize types of events that can be hosted
The new Tennessee Titans stadium was conceived to maximize the number and type of events that the facility can host. In addition to serving as the home of the NFL’s Titans, the facility will be a venue for numerous other sporting, entertainment, and civic events. The 1.7-million sf, 60,000-seat, fully enclosed stadium will be built on the east side of the current stadium campus.