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

Multifamily Housing | Apr 12, 2024

Habitat starts leasing Cassidy on Canal, a new luxury rental high-rise in Chicago

New 33-story Class A rental tower, designed by SCB, will offer 343 rental units. 

Construction Costs | Apr 11, 2024

Construction materials prices increase 0.4% in March 2024

Construction input prices increased 0.4% in March compared to the previous month, according to an Associated Builders and Contractors analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data released today. Nonresidential construction input prices also increased 0.4% for the month.

K-12 Schools | Apr 10, 2024

A San Antonio school will provide early childhood education to a traditionally under-resourced region

In San Antonio, Pre-K 4 SA, which provides preschool for 3- and 4-year-olds, and HOLT Group, which owns industrial and other companies, recently broke ground on an early childhood education: the South Education Center.

University Buildings | Apr 10, 2024

Columbia University to begin construction on New York City’s first all-electric academic research building

Columbia University will soon begin construction on New York City’s first all-electric academic research building. Designed by Kohn Pedersen Fox (KPF), the 80,700-sf building for the university’s Vagelos College of Physicians and Surgeons will provide eight floors of biomedical research and lab facilities as well as symposium and community engagement spaces. 

K-12 Schools | Apr 10, 2024

Surprise, surprise: Students excel in modernized K-12 school buildings

Too many of the nation’s school districts are having to make it work with less-than-ideal educational facilities. But at what cost to student performance and staff satisfaction? 

Cultural Facilities | Apr 8, 2024

Multipurpose sports facility will be first completed building at Obama Presidential Center

When it opens in late 2025, the Home Court will be the first completed space on the Obama Presidential Center campus in Chicago. Located on the southwest corner of the 19.3-acre Obama Presidential Center in Jackson Park, the Home Court will be the largest gathering space on the campus. Renderings recently have been released of the 45,000-sf multipurpose sports facility and events space designed by Moody Nolan.

MFPRO+ New Projects | Apr 8, 2024

Construction complete on The Station Apartments in Minneapolis

Big-D Midwest recently completed construction on The Station Apartments at Malcolm Yards, an innovative and unique housing property in Minneapolis.

Green | Apr 8, 2024

LEED v5 released for public comment

The U.S. Green Building Council (USGBC) has opened the first public comment period for the first draft of LEED v5. The new version of the LEED green building rating system will drive deep decarbonization, quality of life improvements, and ecological conservation and restoration, USGBC says. 

Codes and Standards | Apr 8, 2024

Boston’s plans to hold back rising seawater stall amid real estate slowdown

Boston has placed significant aspects of its plan to protect the city from rising sea levels on the actions of private developers. Amid a post-Covid commercial development slump, though, efforts to build protective infrastructure have stalled.

Adaptive Reuse | Apr 5, 2024

McHugh Construction completes restoration of Chicago’s historic Ramova Theatre

Adaptive reuse project turns 1929 cinema into a live performance venue, adds a brewery and a taproom, and revives the Ramova Grill in Chicago’s Bridgeport neighborhood.

boombox1 - default
boombox2 -
native1 -

More In Category


Contractors

AGC releases decarbonization playbook to help assess, track, reduce GHG emissions

The Associated General Contractors of America released a new, first-of-its-kind, decarbonization playbook designed to help firms assess, track, and reduce greenhouse gas emissions on projects. The AGC Playbook on Decarbonization and Carbon Reporting in the Construction Industry is part of the association’s efforts to make sure construction firms play a leading role in crafting carbon-reduction measures for the industry.


Mass Timber

Bjarke Ingels Group designs a mass timber cube structure for the University of Kansas

Bjarke Ingels Group (BIG) and executive architect BNIM have unveiled their design for a new mass timber cube structure called the Makers’ KUbe for the University of Kansas School of Architecture & Design. A six-story, 50,000-sf building for learning and collaboration, the light-filled KUbe will house studio and teaching space, 3D-printing and robotic labs, and a ground-level cafe, all organized around a central core.


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