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For the fifteenth consecutive month architecture firms reported increasing demand for design services in April, according to a new report today from The American Institute of Architects (AIA).
Construction input prices increased 0.8% in April compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data released today.
Global office demand could drop by between 10% and 20% as companies continue to develop policies around hybrid work arrangements, a Barclays analyst recently stated on CNBC.
National nonresidential construction spending was down 0.8% in March, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau.
Spending was up on a monthly basis in 13 of the 16 nonresidential subcategories.
The pandemic and supply chain woes may limit gains.
Texas, Wyoming have worst job losses since February 2020, while Utah, South Dakota add the most.
Construction input prices are 21.1% higher than in October 2020.
Supply chain and labor woes continue.
Gain occurs even as firms struggle with supply chain challenges.
Beaumont-Port Arthur, Texas and Sacramento--Roseville--Arden-
A drop in residential work projects adds to ongoing downturn in private and public nonresidential.
In the third quarter alone, Marriott opened 60 new hotels/7,882 rooms accounting for 30% of all new hotel rooms that opened in the U.S.
The top 25 U.S. markets account for 33% of all pipeline projects and 37% of all rooms in the U.S. hotel construction pipeline.
