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 3, 2011
Balance bunker and Phase III projects breaks ground at Mitsubishi Plant in Georgia
The facility, a modification of similar facilities used by Mitsubishi Heavy Industries, Inc. (MHI) in Japan, was designed by a joint design team of engineers and architects from The Austin Company of Cleveland, Ohio, MPSA and MHI.
| Oct 3, 2011
Cauceglia to lead Allsteel’s global accounts
Cauceglia is responsible for developing new global business strategies and expanding existing business within the Fortune 500 sector.
| Sep 30, 2011
BBS Architects & Engineers completes welcoming center at St. Charles Resurrection Cemetery
The new structure serves as the cemetery's focal architectural point and center of operations.
| Sep 30, 2011
Kilbourn joins Perkins Eastman
Kilbourn joins with more than 28 years of design and planning experience for communities, buildings, and interiors in hospitality, retail/mixed-use, corporate office, and healthcare.
| Sep 30, 2011
Design your own floor program
Program allows users to choose from a variety of flooring and line accent colors to create unique floor designs to complement any athletic facility.
| Sep 30, 2011
AAMA offers electronic technical documents with launch of virtual library
This new program offers a system for members to purchase annual licenses in order to offer electronic versions of AAMA publications in an effort to make AAMA’s technical information resources more readily available to their employees.
| Sep 29, 2011
Submit your Great Solutions
Profiles of Great Solutions will appear in December 2011 issue of Building Design+Construction.
| Sep 29, 2011
Busch Engineering, Science and Technology Residence Hall opens to Rutgers students
With a total development cost of $57 million, B.E.S.T. is the first on-campus residence hall constructed by Rutgers since 1994.
| Sep 29, 2011
CEU series examines environmental footprint and performance properties of wood, concrete, and steel
Each course qualifies for one AIA/CES HSW/SD Learning Unit or One GBCI CE Hour.
| Sep 29, 2011
Kohler supports 2011 Solar Decathlon competition teams
Modular Architecture > In a quest to create the ultimate ‘green’ house, 20 collegiate teams compete in Washington D.C. Mall.
