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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.
AIA releases latest Consensus Construction Forecast.
The metro with the most units under construction and planned as a percent of existing inventory in mid-July was Nashville, Tenn.
Favorable economic conditions produce a sunny summer for the apartment sector.
“The hope is that June’s construction spending setback is merely a statistical aberration,” said ABC Chief Economist Anirban Basu.
The hotel construction pipeline has been growing moderately and incrementally each quarter.
Nonresidential fixed investment represented an especially important element of second quarter strength in the advance estimate.
June represents the latest month associated with rapidly rising construction input prices.
Outsize development activity in some major metros could increase vacancy rates and stagnate rent growth.
New report says strong economic fundamentals outweigh headwinds.
Architecture Billings Index enters eighth straight month of solid growth.
