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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.
Delta variant of coronavirus threatens to hold down further gains.
The ABI score for July was 54.6.
The producer price index for new nonresidential construction rose 4.4% over the past 12 months.
Nonresidential sector trails overall recovery.
The fall was driven by a big drop in funding for highway and street construction and other public work.
The strongest design sector performers for the remainder of this year are expected to be health care facilities.
Eighty metro areas had lower construction employment in June 2021 than February 2020.
472 new hotels with 59,034 rooms opened across the United States during the first half of 2021.
Many hotel owners, developers, and management groups have used the operational downtime, caused by COVID-19’s impact on operating performance, as an opportunity to upgrade and renovate their hotels and/or redefine their hotels with a brand conversion.
During the first and second quarters of 2021, the U.S. opened 472 new hotels with 59,034 rooms.
