Architecture Billings Index Exhibits Continued Strength

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WASHINGTON, D.C. — On the heels of recording its strongest pace of growth since 2007, there continues to be an increasing level of demand for design services signaled in the latest Architecture Billings Index. 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 August ABI score was 53.0, down from a mark of 55.8 in July. This score reflects an increase in design activity (any score above 50 indicates an increase in billings). The new projects inquiry index […]

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Construction Employment Increases in 36 States during Past Year

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Construction firms added jobs in 36 states between August 2013 and August 2014, while construction employment increased in 28 states between July and August, according to an analysis of Labor Department data by the Associated General Contractors of America. Association officials noted construction activity continues to spread across most of the nation even, as employment gains remain uneven by month and state. “The number of states with increases in construction employment over the last 12 months moderated in August but remained strongly positive as construction activity continues to spread across most of the nation,” said Ken Simonson, the association's chief […]

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Economy Improving Slowly According to FMI Q3-2014 Outlook

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RALEIGH, N.C. — FMI released its Q3-2014 Construction Outlook. The forecast calls for solid, slow growth. Contributing factors include relatively low energy prices, low inflation, unemployment holding around 6.2 percent and GDP slowly growing. Additionally, consumer confidence is rising steadily, building permits and housing starts bounced back in July, and banks are starting to lend again, that is, if the applicant has good credit and cash flow. Therefore, sectors such as power, conservation and development, as well as transportation will continue to see growth ahead of GDP. However, water supply, sewage and waste disposal, and highway and street construction will […]

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Construction Industry Employment Hits Five-Year High, Reports AGC

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Construction industry employment reached a five-year high in August as the sector added 20,000 jobs and its unemployment rate fell to 7.7 percent, the lowest rate for August in seven years, according to an analysis by the Associated General Contractors of America. Association officials cautioned, however, that the latest figures reinforce survey results the association recently released showing many contractors are having a tough time finding enough qualified workers. “Construction employment growth has been accelerating and is broad-based,” said Ken Simonson, the association’s chief economist. “The increase in the past 12 months was the largest since 2006 and was spread […]

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Gilbane's Summer Construction Economics Report Predicts Strong Industry Growth Could Be Slowed by Skilled Labor Shortage

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PROVIDENCE, R.I. — Gilbane Building Company announced the Summer 2014 edition of its in-house economics report, Building for the Future – Construction Economics: Market Conditions in Construction. The report predicts rapid growth coupled with the lack of skilled, experienced labor and the ability to meet schedule will be some of the most important industry issues to address over the next few years. “The good, if not, great news is that the most favorable, forward-looking conditions support expectations for strong industry growth in 2015,” said Ed Zarenski, a Gilbane estimating executive with more than 40 years in the construction business. “Very […]

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