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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.
The Construction Confidence Index remained strong in February, according to the Associated Builders and Contractors.
ABC's Construction Backlog Indicator expanded to 8.8 months in February 2019.
Top-performing segments forecast in 2019 include transportation, public safety, and education.
Private nonresidential spending fell 0.5% for the month and is only up 0.1% on a year-over-year basis.
Expectations for sales during the coming six-month period remained especially upbeat in January.
AIA’s Architecture Billings Index (ABI) score for February was 50.3, down from 55.3 in January.
The Construction Backlog Indicator contracted to 8.1 months during January 2019.
At a seasonally adjusted annualized rate, nonresidential spending totaled $762.5 billion for the month.
Of the 11 construction subcategories, seven experienced price declines for the month.
There are a record-high 6,352 hotel projects and 1.17 million rooms currently under construction worldwide.
