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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.
AIA’s ABI score for February was 53.3 compared to 44.9 in January.
Rampant cancellations augur further declines ahead.
Canceled projects, supply-chain woes threaten future jobs.
The same firms are already struggling to cope with pandemic impacts.
Costs and delayed deliveries of materials, parts, and supplies are vexing many contractors.
Association officials urge congress and Biden administration to focus on new infrastructure funding.
Private nonresidential market shrinks 10% since January 2020 with declines in all 11 segments.
Predicts second-half improvement toward normalization next year.
AIA’s Architecture Billings Index (ABI) score for January was 44.9 compared to 42.3 in December.
