Nonresidential fixed investment in structures expanded 4.6 percent on an annualized basis during the second quarter of 2013, according to the July 31 gross domestic product report by the U.S. Commerce Department. This increase followed a 4.6 percent decline in the first quarter of the year. Fixed investment in equipment rose 4.1 percent in the second quarter and overall investment in structures expanded 6.8 percent. Residential fixed investment increased 13.4 percent following 12.5 percent expansion in the first quarter. Fixed investment in the nation's residential sector has been growing at a double-digit clip since the third quarter of 2012. Personal […]
Economic Report Predicts Non-Residential Construction Growth
PROVIDENCE, R.I. — Gilbane Building Company announces the publication of the Summer 2013 edition of Construction Economics — Market Conditions in Construction. Based on an array of economic data, construction starts and material cost trends, the data continues to show positive growth for the industry. “Supported by overall positive growth trends for year 2013, I expect margins and overall escalation to climb more rapidly than we"ve seen in five years,” says Ed Zarenski, the report's author and a 40-year veteran of the construction industry. “Rates will continue to rise and borrowing costs will add potential cost to future funding of […]
Construction Unemployment Hits 9.1%
The unemployment rate for construction workers fell to the lowest July level in five years last month, even though employment has stagnated in the past four months, according to an analysis of new government data by the Associated General Contractors of America. Association officials urged Washington leaders to act on stalled infrastructure funding measures to help jump start construction hiring. “Although the unemployment rate for experienced construction workers came down to 9.1 percent in July, many of those workers have left the industry for other jobs, school or training programs, or retirement,” said Ken Simonson, the association’s chief economist. “While […]
AGC Reports on June Construction Spending
Total construction spending cooled in June as residential building hit the pause button, while private nonresidential and public construction also declined, according to an analysis of new census bureau data by the Associated General Contractors of America. Association officials urged lawmakers in Washington to make infrastructure investment a top federal priority for the fiscal year beginning in October. “New single-family and multifamily construction both had rare slowdowns in June, while private nonresidential construction remained stuck in neutral as it has all year and the long slump in public construction worsened,” said Ken Simonson, the association’s chief economist. “For the rest […]
Construction Employment Increases in Over Half of Metro Areas in Last Year
Construction employment increased in 191 out of 339 metropolitan areas between June 2012 and June 2013, declined in 97 and was flat in 51, according to a new analysis of federal employment data released today by the Associated General Contractors of America. Association officials welcomed the construction employment gains, but cautioned that demand remained spotty amid continued efforts to cut federal investments in vital infrastructure projects, including for clean water systems. “Although construction activity remains extremely spotty, with strong residential activity offsetting lackluster private nonresidential investment and shrinking public construction spending, workers are being hired in more and more metro […]



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