Construction spending increased for the third straight month in October as private activity strengthened while public spending shrank, the Associated General Contractors of America reported in an analysis of new Census Bureau data. Association officials cautioned that further declines in public sector activity may soon swamp gains in homebuilding and private nonresidential investment. “The apparent stability in construction spending data is masking conflicting trends,” said the association's chief economist, Ken Simonson. “On one hand, private investments in construction are slowly accelerating, while public sector investments are declining at an even faster rate.” Simonson noted that total construction spending ticked up […]

RALEIGH, N.C. —FMI (www.fminet.com), a provider of management consulting and investment banking to the engineering and construction industry, released its Nonresidential Construction Index report for the fourth quarter of 2011. The NRCI slipped from 52.4 to a barely positive 50.3 this quarter. While the stock market continues its gyrations from news surrounding the future of the Euro countries, the NRCI has managed glacial growth, chugging along just above average for the last two years, average being little to no growth. The NRCI dropping to 50.3 this quarter is less a downward trend than a continuation of moderate growth. Moderate growth […]

WASHINGTON, D.C. — After a sharp dip in September, the Architecture Billings Index climbed nearly three points in October. As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lag time between architecture billings and construction spending. The American Institute of Architects reported the October ABI score was 49.4, following a score of 46.9 in September. This score reflects an overall decrease in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 57.3, up from a reading of 54.3 the previous month. “An increase […]