Hospital construction costs for 2024
Data from Gordian breaks down the average cost per square foot for a three-story hospital across 10 U.S. cities.
HORIZONTV FEATURING BD+C: WATCH EPISODES ON DEMAND AT HORIZONTV
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.
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.
Seven of the 10 executives in the sector surveyed in the report said their company fell victim to fraud in the past year.
Architecture firms close 2016 with the strongest performance of the year.
However, many firms remain worried about the availability of qualified workers.
The boost in firm leader optimism extends across almost the entire engineering marketplace.
Many construction firms have reported that they remain busy but have become concerned that work could dry up in certain markets in 2017 or 2018, says Anirban Basu, ABC Chief Economist.
New design contracts also return to positive levels, signifying future growth in construction activity.
New Joint Center report projects 66% increase in senior heads of households by 2035.
“The U.S. economy continues to expand amid a weak global economy and, despite risks to the construction industry, nonresidential spending should expand 3.5 percent in 2017,” says ABC Chief Economist Anirban Basu.
Nonresidential spending is now 2.6 percent higher than at the same time one year ago.
Overall nonresidential construction spending in September totaled $690.5 billion, down a slight 0.7 percent from a year earlier.