flexiblefullpage -
billboard - default
interstitial1 - interstitial
catfish1 - bottom
Currently Reading

Construction economists optimistic about 2014 growth

Construction economists optimistic about 2014 growth

ABC’s quarterly Construction Backlog Indicator (CBI) will be released Aug. 19.


By Associated Builders and Contractors | August 5, 2014
Associated Builders and Contractors (ABC) Chief Economist Anirban Basu, American Institute of Architects (AIA) Chief Economist Kermit Baker and National Association of Home Builders (NAHB) Chief Economist David Crowe provided a collaborative economic forecast combining their expert economic analysis on leading, present and lagging economic indicators.
 
"A combination of low interest rates; wealth effects stemming from a booming stock market and rising home prices; surging energy production; and expanding industrial output has helped position the U.S. economy for more rapid growth during the next several quarters," said ABC Chief Economist Anirban Basu. "This will lead to more robust recovery in the U.S. nonresidential construction industry, which has also been aided by stable materials prices and improving commercial real estate fundamentals. ABC predicts 7 percent nominal nonresidential construction growth in 2014, despite ongoing challenges in the public construction segment."
 
"We continue to have an optimistic outlook for the commercial and industrial sectors for the rest of this year and into 2015," said AIA Chief Economist Kermit Baker, PhD, Hon. AIA. "However, until we see state and local governments ramp up spending for new education, health care and public safety structures there likely won’t be a widespread acceleration in spending for the entire industry."
 
"Economic pick-up in the second quarter was coupled with a return in housing construction," said David Crowe, chief economist for NAHB. "We expect continued modest growth in housing construction as employment rises and more household formations take place. However, continued tight supplies of labor and land will put upward pressure on new home prices."
 
In addition to this forecast, AIA released its latest Architecture Billings Index (ABI) July 23, NAHB released its latest NAHB/Wells Fargo Housing Market Index (HMI) July 16 and ABC’s quarterly Construction Backlog Indicator (CBI) will be released Aug. 19.

Related Stories

Codes and Standards | Dec 18, 2023

ASHRAE releases guide on grid interactivity in the decarbonization process

A guide focusing on the critical role of grid interactivity in building decarbonization was recently published by ASHRAE. The Grid-Interactive Buildings for Decarbonization: Design and Operation Resource Guide provides information on maximizing carbon reduction through buildings’ interaction with the electric power grid.

Sustainable Design and Construction | Dec 14, 2023

Suffolk Construction establishes Suffolk Sustainability Group

Design veterans Steven Burke and Michael Swenson will lead the new sustainability initiative for Suffolk.

75 Top Building Products | Dec 13, 2023

75 top building products for 2023

From a bladeless rooftop wind energy system, to a troffer light fixture with built-in continuous visible light disinfection, innovation is plentiful in Building Design+Construction's annual 75 Top Products report. 

Giants 400 | Dec 12, 2023

Top 15 Veterans Affairs Facility Construction Firms for 2023

Walsh Group, Turner Construction, BL Harbert, and Hoar Construction top BD+C's ranking of the nation's largest Veterans Affairs facility general contractors and construction management (CM) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report. 

Giants 400 | Dec 12, 2023

Top 35 Military Facility Construction Firms for 2023

Hensel Phelps, DPR Construction, Walsh Group, and Whiting-Turner top BD+C's ranking of the nation's largest military facility general contractors and construction management (CM) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report. 

Contractors | Dec 12, 2023

The average U.S. contractor has 8.5 months worth of construction work in the pipeline, as of November 2023

Associated Builders and Contractors reported today that its Construction Backlog Indicator inched up to 8.5 months in November from 8.4 months in October, according to an ABC member survey conducted Nov. 20 to Dec. 4. The reading is down 0.7 months from November 2022.

Giants 400 | Dec 11, 2023

Top 80 Local Government Building Construction Firms for 2023

Turner Construction, Clark Group, Holder Construction, and Pepper Construction top BD+C's ranking of the nation's largest local government building general contractors and construction management (CM) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report.

Giants 400 | Dec 11, 2023

Top 50 State Government Building Construction Firms for 2023

Hensel Phelps, Turner Construction, Clark Group, and PCL Construction top BD+C's ranking of the nation's largest state government building general contractors and construction management (CM) firms for 2023, as reported in Building Design+Construction's 2023 Giants 400 Report. 

Codes and Standards | Dec 11, 2023

Washington state tries new approach to phase out fossil fuels in new construction

After pausing a heat pump mandate earlier this year after a federal court overturned Berkeley, Calif.’s ban on gas appliances in new buildings, Washington state enacted a new code provision that seems poised to achieve the same goal.

Green | Dec 11, 2023

U.S. has tools to meet commercial building sector decarbonization goals early

The U.S. has the tools to reduce commercial building-related emissions to reach target goals in 2029, earlier than what it committed to when it signed the Paris Agreement, according to a report by the U.S. Green Building Council.

boombox1 - default
boombox2 -
native1 -

More In Category

Mass Timber

Mass timber a big part of Western Washington University’s net-zero ambitions

Western Washington University, in Bellingham, Wash., 90 miles from Seattle, is in the process of expanding its ABET-accredited programs for electrical engineering, computer engineering and science, and energy science. As part of that process, the university is building Kaiser Borsari Hall, the 54,000-sf new home for those academic disciplines that will include teaching labs, research labs, classrooms, collaborative spaces, and administrative offices.




halfpage1 -

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021