U.S. Construction Industry Jump Starts with Third Consecutive Month of Growth

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PHOENIX, Ariz. — According to Rider Levett Bucknall, findings in its newly released Third Quarter 2015 USA Construction Cost Report, the U.S. construction industry continued to experience an upward trend last quarter, with three consecutive months of growth. The report also states cost escalation in Honolulu, Hawaii in the second quarter hit 2.76 percent (11 percent annualized) leading its construction costs to eclipse those of New York City and making it the most expensive city to build in the USA. Rider Levett Bucknall’s research indicates that national activity for construction put-in-place jumped by nearly 12 percent between the third quarter … Read more

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Dodge Momentum Index Jumps in September

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NEW YORK, N.Y. — The Dodge Momentum Index moved 5.8 percent higher in September to 133.5 (2000=100) from its August reading of 126.2. 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 impetus behind September's gain was a 12 percent increase from the previous month in institutional building planning. State and local budgets, which finance many projects in the institutional category, continue to recover from their recessionary weakness. With this support, planning for new institutional … Read more

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Construction Spending in August Climbs to Highest Level, Fastest Growth

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Construction spending in August reached a seven-year high and climbed at the fastest rate since 2006, according to a recently analysis by the Associated General Contractors of America. Association officials noted that growing demand for construction was likely to add to the challenges many firms are having finding qualified workers. “There were widespread monthly and year-over-year gains in August for all major construction categories—private nonresidential, residential and public,” said Ken Simonson, the association’s chief economist. “Activity in all three categories has been accelerating recently and should continue rising into 2016—if contractors can find enough workers with the right skills to … Read more

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Construction Employment Declines in August, Reports AGC

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Construction employment declined in 153 out of 358 metro areas between August 2014 and August 2015, nearly matching the 163 areas that added construction jobs, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials noted that the number of metro areas losing construction jobs is on the rise amid growing uncertainty about federal funding for construction programs and growing shortages of qualified construction workers. “The fact that fewer than half of metro areas added construction jobs at a time when there were gains in nearly three-fourths of the states suggests … Read more

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Gilbane Releases Quarterly Construction Economics Report

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PROVIDENCE, R.I. — Leading global construction and facilities-related services firm Gilbane Building Company recently announced the findings from its in-house quarterly economics report: Building for the Future – Construction Economics: Market Conditions in Construction. Among its most notable findings, the report indicates spending on nonresidential buildings is on pace to grow by at least 20 percent by end of 2015. Further, non-building infrastructure spending, after a brief gain, will go flat or decline until moderate growth resumes in the fourth quarter of 2015. According to the report, total spending for all types of construction will grow 11 percent year- over-year … Read more

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