Construction spending rose in December to a six-year high of $982 billion as public construction for the year increased for the first time since 2009, according to an analysis by the Associated General Contractors of America. Association officials said President Obama’s budget proposal and his suggested infrastructure funding program should help construction spending continue to grow by accelerating debate about the best way to fund repairs to the nation’s aging roads, bridges, and other public infrastructure. “For the first time in nearly a decade there was growth in all three major construction segments—public, private nonresidential and residential,” said Ken Simonson, … Read more
Recovery for Construction Industry Projected to Result in Solid Increases in Spending Levels in 2015, 2016
WASHINGTON, D.C. — The nonresidential building market was hamstrung by weather-related delays during the first part of the 2014, but conditions improved dramatically throughout the rest of the year to finish with greater than anticipated spending levels. The commercial construction sector is now looking at double-digit increases in 2015, led by vigorous levels of demand for hotels and office buildings. The American Institute of Architects" semi-annual Consensus Construction Forecast, a survey of the nation's leading construction forecasters, is projecting that spending will see a 7.7 percent increase in 2015, with next year's projection nudging up to 8.2 percent. “This is … Read more
AGC Releases Construction Hiring and Business Outlook
Construction firms added jobs in 40 states and the District of Columbia between December 2013 and December 2014 while construction employment increased in 38 states and D.C. between November and December, according to a recent analysis of Labor Department data by the Associated General Contractors of America. Association officials noted that construction employment gains are consistent with the general optimism most contractors expressed in the association’s Construction Hiring and Business Outlook. According to the outlook, 80 percent of contractors report they plan to add new construction jobs in 2015. In addition, more contractors expect demand for most construction market segments … Read more
Gilbane’s Report Finds Multi-Sector Gains in 2015 Growth & Profits
PROVIDENCE, R.I. — 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 2014 construction spending will finish the year 5.4 percent higher than 2013, noting all sectors have contributed to growth. Further, most major nonresidential markets, including education, healthcare, commercial retail, office and manufacturing, along with residential construction will all realize much-needed spending increases in 2015. Still, favorable growth conditions in the coming year will be met with an ongoing shortage of available skilled workers, driving up … Read more
Most Construction Firms Expect Growth this Year, Says AGC
Eighty percent of construction firms plan to expand their payrolls in 2015 while only 7 percent expect to reduce headcounts according to survey results released by the Associated General Contractors of America. The survey, conducted as part of Ready to Hire Again: The 2015 Construction Industry Hiring and Business Outlook, indicates that most contractors are optimistic about the year ahead and ready to expand, but will have to cope with challenges including worker shortages and regulatory burdens. “Contractors are extremely optimistic about the outlook for 2015,” said Stephen E. Sandherr, the association’s CEO. “Indeed, if their predictions prove true, industry … Read more



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