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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.
Despite the month-over-month expansion, nonresidential spending fell 1.3 percent from November 2016.
Labor shortages are spiking wages. Materials costs are rising, too.
The American Institute of Architects (AIA) reported the November ABI score was 55.0, up from a score of 51.7 in the previous month.
There are risks to the 2018 outlook as a number of potential cost increases could come into play.
The top world region by project count is North America.
The Total Pipeline stands at 12,427 Projects/2,084,940 Rooms.
CBI is a leading economic indicator that reflects the amount of construction work under contract, but not yet completed.
Despite rising construction labor and materials costs, 55% of contractors expect their profit margins to expand in the first half of 2018.
Largest active projects are by Sutter Health, New York Presbyterian, and Scripps Health.
Multifamily housing and senior living developments head the list of the hottest sectors heading into 2018, according a survey of 356 AEC professionals.
