Economy Improving Slowly According to FMI Q3-2014 Outlook

  • Posted on

RALEIGH, N.C. — FMI released its Q3-2014 Construction Outlook. The forecast calls for solid, slow growth. Contributing factors include relatively low energy prices, low inflation, unemployment holding around 6.2 percent and GDP slowly growing. Additionally, consumer confidence is rising steadily, building permits and housing starts bounced back in July, and banks are starting to lend again, that is, if the applicant has good credit and cash flow. Therefore, sectors such as power, conservation and development, as well as transportation will continue to see growth ahead of GDP. However, water supply, sewage and waste disposal, and highway and street construction will … Read more

Filed under: Economic News, eNewsTagged with:

Midyear 2014 U.S. Construction Machinery Exports Decline 17.3%

  • Posted on

U.S. construction machinery exports dropped 17.3 percent during the first half of 2014 compared with midyear 2013: $8.93 billion in exports were shipped to global markets compared to $10.8 billion for first-half 2013, according to the Association of Equipment Manufacturers, citing U.S. Department of Commerce data. The AEM off-road equipment manufacturing trade group produces global trends reports using U.S. Commerce Dept. information to assist members" business planning. Africa was the only world area in the plus column, with a 4.3 percent increase. Australia/Oceania recorded the steepest decline, at 38.6 percent, followed by South America with a 33.1-percent drop. At midyear … Read more

Filed under: eNews

Construction Industry Employment Hits Five-Year High, Reports AGC

  • Posted on

Construction industry employment reached a five-year high in August as the sector added 20,000 jobs and its unemployment rate fell to 7.7 percent, the lowest rate for August in seven years, according to an analysis by the Associated General Contractors of America. Association officials cautioned, however, that the latest figures reinforce survey results the association recently released showing many contractors are having a tough time finding enough qualified workers. “Construction employment growth has been accelerating and is broad-based,” said Ken Simonson, the association’s chief economist. “The increase in the past 12 months was the largest since 2006 and was spread … Read more

Filed under: Economic News, eNews, OrganizationsTagged with:

Gilbane's Summer Construction Economics Report Predicts Strong Industry Growth Could Be Slowed by Skilled Labor Shortage

  • Posted on

PROVIDENCE, R.I. — Gilbane Building Company announced the Summer 2014 edition of its in-house economics report, Building for the Future – Construction Economics: Market Conditions in Construction. The report predicts rapid growth coupled with the lack of skilled, experienced labor and the ability to meet schedule will be some of the most important industry issues to address over the next few years. “The good, if not, great news is that the most favorable, forward-looking conditions support expectations for strong industry growth in 2015,” said Ed Zarenski, a Gilbane estimating executive with more than 40 years in the construction business. “Very … Read more

Filed under: Economic News, eNewsTagged with:

Sale of Woodbury’s CityPlace Finalized

  • Posted on

WOODBURY, Minn. — The joint venture comprising Florida-based Elion Partners and Minnesota’s Kraus-Anderson announced it has acquired the 100-acre, mixed-use site located at the southeast corner of Radio Drive and Interstate 94. With a new identity and name, the partnership has plans to renovate, reposition and retenant the existing office building as it transforms the parcel into CityPlace, a 700,000-square-foot, mixed-use campus with shopping, restaurants, a hotel and additional office space. “After 18 months of pursuing the necessary approvals, we are very excited to pass this milestone and move forward with the next phase of CityPlace,” said Juan DeAngulo, managing … Read more

Filed under: eNews