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
| Sep 12, 2012
Harvesting new ways to eliminate waste at the USDA
After installing 20 high-speed, energy-efficient hand dryers in restrooms throughout the USDA headquarters; the USDA reports seeing an immediate 50% reduction in the use of paper towels.
| Sep 11, 2012
RTKL appoints Lance Hosey as Chief Sustainability Officer and Senior Vice President
Author and authority on green design to spearhead RTKL Performance-driven DesignSM initiative.
| Sep 11, 2012
McQuade appointed CEO of Tishman Construction
McQuade will focus on driving the growth of the company into new markets and expanding market share in its current areas of operation.
| Sep 11, 2012
Ecosystem Management & Associates joins HDR
EM&A staff will do business as part of HDR Engineering and HDR Environmental, Operations and Construction.
| Sep 10, 2012
Specialty door types—plenty of functional variety
In the MasterFormat section 08 30 00, Specialty Doors and Frames, a number of door types are listed for special functions, access locations, sliding and folding hardware, and even pressure-resistant types.
| Sep 7, 2012
7 Do's and Don'ts for PV roof rack installation
As PVs grow in popularity, nearly half of all installations require roof rack systems. Our expert tells how to do the job right and protect your client’s roof.
| Sep 7, 2012
Net-zero energy pioneers on the el-hi frontier
Getting to net-zero is not easy, but the promise of eliminating energy bills and using state-of-the-art technology as a learning lab can make a compelling case to reach for net-zero.
| Sep 7, 2012
Healthcare architects get a preview of tomorrow’s medical landscape
The topic on everyone’s mind was how the Affordable Care Act would impact healthcare design and construction––and whether the law would even make it past the coming election cycle.
| Sep 7, 2012
Goettsch Partners designs new tower in Abu Dhabi
Al Hilal Bank’s 24-story flagship development provides contemporary office space.
| Sep 7, 2012
Suffolk awarded One Channel Center project in Boston
Firm to manage $125 million, 525,000-sf office building project.