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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.
Thirty-seven states benefited from the rise in construction activity in their state, while 13 states experienced a reduction in activity.
Business conditions remain uneven across regions.
ConstructConnect’s quarterly report shows the most significant annual growth in the civil engineering and residential sectors.
Dodge Outlook Report predicts deceleration but still growth, reflecting a mixed pattern by project type.
Nonresidential construction spending is down 2.9% on a year-over-year basis.
Business conditions easing in the West.
Spending on nonresidential construction services is still down on a YOY basis.
Design services remain in high demand across all regions and in all major sectors.
Brand research is a process that firms can use to measure their reputation and visibility in the marketplace.
Hurricane recovery efforts expected to heighten concerns about labor scarcities in the south, where two-thirds of contractors already face worker shortages.
