Pandemic Halts or Delays Projects for 28% of Contractors, Survey Finds

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The coronavirus pandemic has caused more than one out of four contractors to halt or delay work on projects, according to a survey released by the Associated General Contractors of America. The survey results show how quickly market conditions have changed compared to data showing a majority of metro areas added construction jobs through January. Association officials noted that a relief bill the Senate is considering includes some favorable tax and loan provisions. But they said the bill also needs new infrastructure investments and improvements to the new paid sick and family medical leave measures. “The coronavirus pandemic has the … Read more

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Construction Increases in January Year-Over-Year, Likely Impact of Coronavirus on Industry Not Reflected

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Construction employment increased in 32 states in January compared to both December and January 2019, according to an analysis by the Associated General Contractors of America of Labor Department data. However, association officials said the data was collected well before the coronavirus began to impact the economy and that construction employment levels are likely to decline beginning in March as the virus impacts many parts of the economy.   “The construction industry began 2020 with widespread employment gains, although fewer states had increases than in 2019,” said Ken Simonson, the association’s chief economist. “Exceptionally mild winter weather in many states … Read more

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Marcum Commercial Construction Index Reports Strong Q4 Driven by Infrastructure Spending

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The Marcum Commercial Construction Index for the fourth quarter of 2019 reports healthy levels of construction spending in large part due to the ongoing strength in infrastructure-related categories.  Nonresidential construction spending stood at an annualized rate of $779.6 billion in December 2019, down 1.2% from the previous month but up 4.4% year-over-year. The index is produced by Marcum’s National Construction Services group. Eleven of the 16 nonresidential construction sectors expanded year-over-year, including massive upticks in publicly funded categories like water supply (+33.6%), conservation and development (+16.9%), highway and street (+14.1%) and public safety (+10.1%). Spending decreased from the same time last year … Read more

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Architecture Billings Continue Growth into 2020

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Starting the year on a strong note, architecture firm billings strengthened slightly in January, according to a new report today from The American Institute of Architects. AIA’s Architecture Billings Index score of 52.2 for January compared to 52.1* in December reflects an increase in design services provided by U.S. architecture firms (any score above 50 indicates an increase in billings). Indicators of work in the pipeline, including new project inquiries and new design contracts remained positive, posting scores of 57.9 and 56.0 respectively. “Despite the continued presence of volatility in the economy, design activity has begun to accelerate in recent … Read more

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Construction Employment Increases by 44K in January, 142K Over 12 Months

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Construction employment increased by 44,000 jobs in January and by 142,000 over the past 12 months, as the industry’s unemployment rate hit a new January low, according to an analysis of new government data by the Associated General Contractors of America. Association officials noted that the employment gains are happening at a time when most construction firms expect demand for all types of construction to remain strong.   “Construction accounted for one-fifth of all jobs added in January, even though the industry makes up less than 5% of total employment,” said Ken Simonson, the association’s chief economist, noting that the … Read more

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