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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.
Managers of companies in the industrial sector, including construction, have bought the hype of artificial intelligence (AI) as a transformative technology, but their organizations are not ready to realize its promise, according to research from IFS, a global cloud enterprise software company. An IFS survey of 1,700 senior decision-makers found that 84% of executives anticipate massive organizational benefits from AI.
As seen in the Q1 2024 U.S. Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the first quarter, there are 6,065 projects with 702,990 rooms in the pipeline. This new all-time high represents a 9% year-over-year (YOY) increase in projects and a 7% YOY increase in rooms compared to last year.
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.
As the country that set up the LEED initiative, the US is a natural leader in constructing green buildings.
Seasonally adjusted construction employment in May totaled 7,423,000.
Houston-The Woodlands-Sugar Land and Odessa, Texas have worst 14-month construction job losses.
Spending was down on a monthly basis in nine of 16 nonresidential subcategories.
Public and private work declines amid supply-chain woes, soaring costs.
Texas and Louisiana have worst job losses since February 2020, while Utah and Idaho are the top gainers.
Demand signals construction is recovering.
The multifamily sector led all housing submarkets, and was third among all 58 submarkets tracked by PSMJ in the first quarter of 2021.
The report examines electricity, fossil fuel, water/sewer, and carbon footprint.
Producer price index data for April shows wide variety of materials with double-digit price increases.
