June Construction Jumps 6%

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NEW YORK, N.Y. — New construction starts in June advanced 6 percent to a seasonally adjusted annual rate of $549.7 billion, the highest level so far in 2014, according to McGraw Hill Construction, a division of McGraw Hill Financial.   Nonresidential building strengthened after pulling back in May, with the lift coming from the start of several large manufacturing plant projects.   Modest gains in June were also reported for housing and nonbuilding construction (public works and electric utilities). During the first six months of 2014, total construction starts on an unadjusted basis were $254.1 billion, up 1 percent from … Read more

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Equipment Leasing and Finance Industry Confidence Remains Steady in July

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WASHINGTON, D.C. — The Equipment Leasing & Finance Foundation releases the July 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 $827-billion equipment finance sector. Overall, confidence in the equipment finance market is 61.4, unchanged from the June MCI-EFI.   When asked about the outlook for the future, MCI-EFI survey respondent Adam D. Warner, president, key equipment finance and chairman of the Equipment Leasing and Finance Association, said, “I don’t believe … Read more

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Momentum Increasing for Architecture Billings Index

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WASHINGTON, D.C. — The Architecture Billings Index is signaling improving conditions for the overall design and construction industry. As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lead time between architecture billings and construction spending. The American Institute of Architects reported the June ABI score was 53.5, up from a mark of 52.6 in May. This score reflects an increase in design activity (any score above 50 indicates an increase in billings). The new projects inquiry index was 66.4, up noticeably from the reading of 63.2 the previous month and its highest level … Read more

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Construction Industry Adds 6,000 Jobs, Unemployment Rate Declines

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Construction employers added 6,000 workers to payrolls in June as the industry's unemployment rate dropped to 8.2 percent, its lowest June level in six years, according to an analysis of new government data by the Associated General Contractors of America. Association officials cautioned, however, that recent employment gains could be undermined when the federal government begins scaling back transportation investments in August. “The construction industry continues to expand gradually and unevenly,” said Ken Simonson, the association’s chief economist. “Despite recent job growth, construction employment is still more than 1.7 million jobs or 22 percent below its 2006 peak.”   Construction … Read more

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Construction Spending Edges Higher, Gains Offset Residential Downturn

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Total construction spending edged higher for the third straight month in May, as solid increases in private nonresidential and public construction outweighed a downturn in residential projects, according to an analysis of new Census Bureau data by the Associated General Contractors of America. Association officials cautioned that the pickup in highway spending is in jeopardy of reversing sharply unless policy makers act urgently to shore up the federal Highway Trust Fund. “The May figures show that construction activity continues to expand, but with lots of variability by month and project type,” said Ken Simonson, the association’s chief economist. “These uneven … Read more

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