Demand Softens, Outlook for Architecture Billings Index Remains Positive

  • Posted on

WASHINGTON, D.C. — Buoyed by sustained demand for apartments and condominiums, coupled with state and local governments moving ahead with delayed public projects, the Architecture Billings Index has been positive for seven consecutive months. As a leading economic indicator of construction activity, the ABI reflects the approximate 9-12-month lead time between architecture billings and construction spending. The American Institute of Architects reported the November ABI score was 50.9, down from a mark of 53.7 in October. This score reflects a slight increase in design activity (any score above 50 indicates an increase in billings). The new projects inquiry index was … Read more

Filed under: Economic News, News

Construction Firms Add 20,000 Jobs Last Month

  • Posted on

Construction industry employment hit a new five-year high in November as the sector added 20,000 jobs and its unemployment rate fell to 7.5 percent, the lowest rate for November in seven years, according to an analysis by the Associated General Contractors of America. Association officials cautioned, however, that the latest figures include signs that demand for public-sector and non-residential construction may be weakening. “November was another good month overall for construction workers and businesses,” said Ken Simonson, the association’s chief economist. “Yet the recent declines in public works and nonresidential building construction employment may indicate some underlying weakness in the … Read more

Filed under: Economic News, eNewsTagged with:

Construction Employment Demand Remains Steady, Reports AGC

  • Posted on

Construction employment expanded in 228 metro areas, declined in 64 and was stagnant in 47 between October 2013 and October 2014, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said the construction job gains come as new federal figures show year-over-year growth in construction spending and many firms report impacts from growing shortages of qualified workers. “Even as a number of markets continue to struggle with declining construction demand and employment, most metro areas are adding construction jobs as the industry slowly recovers,” said Ken Simonson, chief economist for … Read more

Filed under: Economic News, News, OrganizationsTagged with:

ABC Predicts Continued Construction Industry Growth in 2015

  • Posted on

WASHINGTON, D.C. — Associated Builders and Contractors forecasts a steady and ongoing economic recovery for the U.S. commercial and industrial construction industries in 2015. The reasonably brisk industry recovery in 2014 should continue in 2015, with momentum especially growing in segments closely related to the current American energy and industrial production resurgence. “ABC forecasts nonresidential construction spending will expand by roughly 7.5 percent next year,” said ABC Chief Economist Anirban Basu. “The segments that will experience the largest growth in construction spending in 2015 include power (e.g., natural gas-related construction), lodging (leisure and business spending), office space (professional services employment … Read more

Filed under: Economic News, News, OrganizationsTagged with:

Equipment Leasing and Finance Industry Confidence at Six-Month High

  • Posted on

WASHINGTON, D.C. — The Equipment Leasing & Finance Foundation has released the November 2014 Monthly Confidence Index for the Equipment Finance Industry. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $903-billion equipment finance sector. Overall, confidence in the equipment finance market is 64.2, an increase from the October index of 60.4 and the highest level since May.   When asked about the outlook for the future, MCI-EFI survey respondent Valerie Hayes Jester, President, Brandywine Capital Associates, Inc., said, “The … Read more

Filed under: Economic News, NewsTagged with: