WASHINGTON, D.C. — Nov. 9 — Associated Builders and Contractors (ABC) today released its 2010 economic forecast for the commercial and industrial construction industry. “While the industry battled the effects of the recession in 2009, expect 2010 to be a transitional but sluggish year on the road to recovery,” said ABC Chief Economist Anirban Basu. “Through late 2008, the industry held up well, but 2009 was a year of retrenchment for many construction sectors, including those associated with private development and municipal projects,” said Basu. “Overall, the nonresidential construction industry has been impacted by a combination of financing constraints, massive … Read more
Construction Employment Declines in 49 States & D.C. in September Compared to Last Year as Industry Awaits Stimulus, Recovery
Nevada and Arizona Experience Largest Declines and 41 States Experience Double-Digit Job Losses; Only Louisiana Adds Construction Jobs During the Past Year Construction employment again declined in large numbers in all but one state this September compared to last year according to an analysis of new state-by-state employment figures released today by the federal government. The analysis, conducted by the Associated General Contractors of America, also found that the number of states gaining construction jobs from August to September 2009 declined after increasing during the two previous months. “While there’s little doubt construction employment would have been worse without the … Read more
Minimal Improvement in Architecture Billings Index
Level of inquiries reaches highest mark in two years Washington, D.C. — As the nonresidential construction industry continues to struggle, the Architecture Billings Index (ABI) showed a nominal improvement in September. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the September ABI rating was 43.1, up slightly from 41.7 in August. This score indicates a decline in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry score was … Read more
AIA to Congress: Act Now to Jump Start Building Sector of Economy
Architect testifies about need for polices designed to help small businesses during economic crisis Washington, D.C. — October 7 — Tampa-based architect, Mickey Jacob, FAIA, unveiled the American Institute of Architects" (AIA) Rebuild & Renew plan for both short- and long-term economic recovery to the House Committee on Small Business at a hearing today. “Small business does not want a bailout. We want access to loans to bridge the economic downturn to help fund operational costs. We want relief from the premium costs of health insurance. We want incentives for people to build, buy, and renovate their homes and businesses. … Read more
ABC Construction Backlog Indicator up 8.9%
Washington, D.C. — Associated Builders and Contractors (ABC) reports that the nation's Construction Backlog Indicator (CBI) for July rose 8.9 percent to 6.1 months from 5.6 months in June. The CBI is a gauge on the amount of construction work to be completed, measured in time, currently under contract. “While the magnitude of the monthly increase was significant and impressive, June was the lowest point for the CBI since ABC began collecting national data in November 2008. At that time, the CBI stood at 7.1 months, or 14 percent above its current level of 6.1 months,” said ABC … Read more