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
| Oct 12, 2011
Vertical Transportation Systems Reach New Heights
Elevators and escalators have been re-engineered to help building owners reduce energy consumption and move people more efficiently.
| Oct 12, 2011
Building a Double Wall
An aged federal building gets wrapped in a new double wall glass skin.
Office Buildings | Oct 12, 2011
8 Must-know Trends in Office Fitouts
Office designs are adjusting to dramatic changes in employee work habits. Goodbye, cube farm. Hello, bright, open offices with plenty of collaborative space.
| Oct 12, 2011
FMI’s Construction Outlook: Third Quarter 2011 Report
Construction Market Forecast: The general economy is seeing mixed signs.
| Oct 12, 2011
Bulley & Andrews celebrates 120 years of construction
The family-owned and operated general contractor attributes this significant milestone to the strong foundation built decades ago on honesty, integrity, and service in construction.
| Oct 12, 2011
Consigli Construction breaks ground for Bigelow Laboratory Center for Ocean Health
Consigli to build third phase of 64-acre Ocean Science and Education Campus, design by WBRC Architects , engineers in association with Perkins + Will
| Oct 11, 2011
AIA introduces five new documents for use on sustainable projects
These new documents will be available in the first quarter of 2012 as part of the new AIA Contract Documents service and AIA Documents on Demand.
| Oct 11, 2011
Pink light bulbs donated to Society of Memorial Sloan-Kettering Cancer Center
For every Bulbrite Pink Light Bulb that is purchased through the Cancer Center Thrift Shop, 100% of the proceeds will be donated to help support breast cancer research, education, screening, and treatment.
| Oct 11, 2011
ThyssenKrupp elevator cabs validated by UL Environment
The conclusive and independent third-party validation process is another step toward a green product line.
| Oct 11, 2011
Ballard Spahr launches real estate recovery group
The new group represents an expansion of the company’s Distressed Real Estate Initiative, which was launched in 2008 to help clients throughout the country plan, adapt and prosper in a challenging economic environment.
