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Building Design+Construction's monthly Market Intelligence Report offers a snapshot of the health of the U.S. building construction industry, including the commercial, multifamily, institutional, and industrial building sectors. This report tracks the latest metrics related to construction spending, demand for design services, contractor backlogs, and material price trends.
Associated Builders and Contractors reported that its Construction Backlog Indicator increased to 8.4 months in April, according to an ABC member survey conducted April 22 to May 6. The reading is down 0.5 months from April 2023, but expanded 0.2 months from the prior month.
Data from Gordian breaks down the average cost per square foot for a three-story hospital across 10 U.S. cities.
National nonresidential construction spending increased 0.2% in March, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.19 trillion.
Strong job growth and dwindling consumer debt give rise to hope.
More than 100,000 rooms could be delivered this year alone.
The largest revisions came in the last two years and were largely upward.
By all indications, 2015 was another solid year for U.S. architecture, engineering, and construction firms.
Only 4 of 16 subsectors showed gains
Business conditions show continued strength in South and West regions.
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ABC forecasts growth in nonresidential construction spending of 7.4% in 2016 along with growth in employment and backlog.
