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
| Mar 13, 2014
Do you really 'always turn right'?
The first visitor center we designed was the Ernest F. Coe Visitor Center for the Everglades National Park in 1993. I remember it well for a variety of reasons, not the least of which was the ongoing dialogue we had with our retail consultant. He insisted that the gift shop be located on the right as one exited the visitor center because people “always turn right.”
| Mar 13, 2014
Austria's tallest tower shimmers with striking 'folded façade' [slideshow]
The 58-story DC Tower 1 is the first of two high-rises designed by Dominique Perrault Architecture for Vienna's skyline.
| Mar 13, 2014
Simon Perkowitz to join KTGY Group
Perkowitz, the founder of Perkowitz + Ruth, will assist KTGY in responding to the demands and further development of its growing retail/commercial division.
| Mar 12, 2014
London grows up: 236 tall buildings to be added to skyline in coming decade, says think tank
The vast majority of high-rise projects in the works are residential towers, which could help tackle the city's housing crisis, according to a new report by New London Architecture.
| Mar 12, 2014
Final call for entries! BUILDINGChicago 2014 call for educational proposals
The Advisory Committee of the BUILDINGChicago/Greening the Heartland 2014 Conference is accepting proposals for presenters and topics through this Friday, March 14.
| Mar 12, 2014
14 new ideas for doors and door hardware
From a high-tech classroom lockdown system to an impact-resistant wide-stile door line, BD+C editors present a collection of door and door hardware innovations.
| Mar 12, 2014
AIA gives support to legislation to assist architecture students with debt
The National Design Services Act will give architecture students relief from student loan debt in return for community service.
| Mar 12, 2014
New CannonDesign database allows users to track facility assets
The new software identifies critical failures of components and systems, code and ADA-compliance issues, and systematically justifies prudent expenditures.
| Mar 11, 2014
7 (more) awe-inspiring interior designs [slideshow]
The seven winners of the 41st Interior Design Competition and the 22nd Will Ching Design Competition include projects on four different continents.
| Mar 11, 2014
Freelon Group to join Perkins+Will
The Freelon Group concentrates on museums, libraries, universities and other civic and institutional clients; Perkins+Will plans to incorporate this specialization into their design repertory.
