Reed Construction Data announced its December Expansion Index stood at 1.48, indicating overall construction in the United States is expected to grow over the next 12 months.
“The positive signs of growth are encouraging and align with other economic data,” said Bernard Markstein, U.S. Chief Economist, Reed Construction Data. “With an Expansion Index greater than 1 in 41 states plus the District of Columbia, the expected improvement in construction appears widespread across the country.” The top five states expected to see an expanding construction market: North Dakota, Rhode Island, Montana, Virginia, Utah.
The Expansion Index is a monthly measure of expectations for the construction marketplace over the upcoming 12-18 months, based on the value of projects in the planning pipeline. A reading greater than 1 indicates construction volume is expected to expand.
In addition to an overall measure of U.S. construction, Reed uses the Expansion Index to track expected construction volume for every state and more than 360 Metropolitan Statistical Areas.
According to Markstein, multiple factors are supporting the positive signal.
“Many pieces are falling into place for a moderately faster-growing economy,” stated Markstein. “Companies are experiencing rising demand. A federal budget deal was signed into law. Residential construction continues to improve. Europe is slowly working its way out of recession. These and other positives mean the Reed Expansion Index is likely to remain well above 1 for several months–an indication that construction activity will rise throughout the year.”
The Expansion Index is a ratio of the value of projects in the planning phase over the value of the projects estimated to be still under construction in a defined geography and/or building segment. The relationship says if more in the pipeline than underway, the volume will increase in the future if that ratio is greater than 1. The data covered includes non-residential and multifamily residential construction.
To view the Expansion Index, visit www.reedconstructiondata.com/market-intelligence/expansion-index.
20 Fastest-growing MSAs | |
---|---|
MSA | EI rating |
Duluth, MN-WI Durham, NC El Centro, CA Evansville, IN-KY Flagstaff, AZ Flint, MI Grand Forks, ND-MN Greenville, NC Laredo, TX Logan, UT-ID Missoula, MT Muskegon-Norton Shores, MI Providence-New Bedford-Fall River, RI-MA Salem, OR Waterloo-Cedar Falls, IA Clarksville, TN-KY VA Beach-Norfolk-Newport News, VA-NC Columbia, MO Baton Rouge, LA Greensboro-High Point, NC |
>10 >10 >10 >10 >10 >10 >10 >10 >10 >10 >10 >10 >10 >10 >10 9.56 7.75 7.67 6.91 6.77 |
About Reed Construction Data
Reed Construction Data is a trusted source for detailed, accurate, and up-to-date information on private and public construction projects across the United States and Canada. Reed’s data collection teams leverage strong industry relationships, innovative technology, and third-party data sources to deliver timely and accurate information on projects, companies, and contacts and daily updates for all types of general and civil construction. For more information, visit www.reedconstructiondata.com.
Related Stories
Office Buildings | Mar 3, 2015
Former DuPont lab to be converted into business incubator near UPenn campus
The new Pennovation Center will provide collaborative and research spaces for educators, scientists, students, and the private sector.
Sponsored | BIM and Information Technology | Mar 3, 2015
The great debate: Is 3D PDF really BIM?
You can pull apart buildings, cut through floors, and view simulated animation for assembly instructions all within a PDF.
K-12 Schools | Mar 2, 2015
BD+C special report: What it takes to build 21st-century schools
How the latest design, construction, and teaching concepts are being implemented in the next generation of America’s schools.
Codes and Standards | Mar 2, 2015
Proposed energy standard for data centers, telecom buildings open for public comment
The intent of ASHRAE Standard 90.4P is to create a performance-based approach that would be more flexible and accommodating of innovative change.
K-12 Schools | Mar 1, 2015
Are energy management systems too complex for school facility staffs?
When school districts demand the latest and greatest, they need to think about how those choices will impact the district’s facilities employees.
Office Buildings | Mar 1, 2015
Google unveils dramatic tent-like, modular-focused plan for corporate HQ
The master plan by Bjarke Ingels and Thomas Heatherwick will wrap highly flexible office blocks in soaring translucent canopies.
Industrial Facilities | Feb 27, 2015
Massive windmill will double as mixed-use entertainment tower in Rotterdam
The 571-foot structure will house apartments, a hotel, restaurants, even a roller coaster.
Architects | Feb 27, 2015
5 finalists announced for 2015 Mies van der Rohe Award
Bjarke Ingels' Danish Maritime Museum and the Ravensburg Art Museum by Lederer Ragnarsdóttir Oei are among the five projects vying for the award.
Office Buildings | Feb 26, 2015
Using active design techniques to strengthen the corporate workplace and enhance employee wellness
The new Lentz Public Health Center in Nashville, Tenn., serves as a model of how those progressive and healthy changes can be made.
K-12 Schools | Feb 26, 2015
Should your next school project include a safe room?
Many school districts continue to resist mandating the inclusion of safe rooms or storm shelters in new and existing buildings. But that may be changing.