Prices for construction materials moved higher in January, propelled by large jumps in items used in new housing and nonresidential building renovations, according to an analysis of new federal figures released today by the Associated General Contractors of America. Association officials said that contractors were paying more for materials even as the pending federal spending “sequestration” threatens to cancel an estimated $4 billion worth of construction activity this year. “Contractors had to contend with huge leaps in prices for gypsum, wallboard and lumber, as well as significant increases in the cost of insulation and architectural coatings such as paint,” said … Read more

RALEIGH, N.C. — FMI, a provider of management consulting and investment banking to the engineering and construction industry, announces the release of The 2013 First Quarter Nonresidential Construction Index report. The NRCI of 58.1 is a 2.6-point improvement over the fourth quarter of 2012. The improvement reflects fundamental bright spots in the economy. “Optimistic but not bullish” is the way one panelist described his outlook on hiring for his company in 2013. Reflective of this is that 45 percent of NRCI panelists expect to increase full-time direct employees by as much as 5 percent—most noting that hiring will be based … Read more

Washington, D.C. — Growing at a faster rate than the overall U.S. economy, the nonresidential construction industry is expected to see solid, yet measured, increases in activity this year.   High demand for hotels and retail projects have the commercial sector pacing what projects to be a rise in spending this year for nonresidential construction projects of 5.0% — up from a projection of a 4.4% increase in the July 2012 forecast.   The American Institute of Architects semi-annual Consensus Construction Forecast, a survey of the nation's leading construction forecasters, also projects a 7.2% increase of spending in 2014. “After … Read more