New Construction Starts in 2016 to Grow 6%

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WASHINGTON, D.C. — Dodge Data & Analytics recently released its 2016 Dodge Construction Outlook, a mainstay in construction industry forecasting and business planning. The report predicts that total U.S. construction starts for 2016 will rise 6 percent to $712 billion, following gains of 9 percent in 2014 and an estimated 13 percent in 2015. “The expansion for the construction industry has been underway for several years now, with varying contributions from each of the major sectors,” stated Robert Murray, chief economist for Dodge Data & Analytics. “Total construction activity, as measured by the construction starts data, is on track this … Read more

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Why Diversity is a Key to the Construction Industry’s Future

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Increasingly, the construction industry is embracing the tenets of diversity and inclusion. This shift is propelled by a business case that highlights projected shortcomings related to talent and skilled labor. A recent industry report lays out the factors driving this trend. Industry trending According to the Bureau of Labor Statistics, the U.S. unemployment rate has dropped to a seven-year low of 5.1 percent. Simultaneously, U.S. labor-force participation has dipped to a 30-year low of 62.4 percent, and a global workforce shortage of 95 million people is projected by 20201. When combined, this all translates to a massive shortage of talent, … Read more

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Dodge Momentum Index Declines in October

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NEW YORK, N.Y. — The Dodge Momentum Index fell 4.8 percent in October to 125.2 (2000=100) from its September reading of 131.5. The index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. The October decline for the index nearly reverses September's large gain (up 5.2 percent), which had been fueled by a sharp jump for institutional building projects at the planning stage. The institutional building sector so far in 2015 has trended upward, but with some volatility … Read more

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U.S Construction Starts Fall Below Expectations in Q3

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ATLANTA, Ga. — U.S. construction starts came in slightly below expectations during the third quarter, with stronger activity in the civil engineering sector being more than offset by weaker growth in the residential and non-residential segments. Residential starts continued to post a healthy pace of annual growth, and the apparent weakness in the non-residential segment may be overstated due to upward revisions in historical data, according to CMD’s latest quarterly forecast report. The Q4 forecast, which combines CMD’s proprietary data with macroeconomic factors, showed construction starts are expected to grow 6.8 percent in 2015, a little less than CMD’s Q3 … Read more

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Construction Employment at Highest Level since 2009, Unemployment Rate at 6.2%

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Construction firms added 31,000 workers in October as the industry’s unemployment rate declined to 6.2 percent amid robust demand for construction, according to a recent analysis by the Associated General Contractors of America. Association officials noted that construction employment is now at the highest level since February 2009 as the sector continues to recover from the downturn. “The industry continues to recover while the hiring slowdowns it experienced during the summer were prompted more by labor shortages than they were any slump in demand,” said Ken Simonson, the association’s chief economist. “Construction firms appear to have had an easier time … Read more

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