Dodge Momentum Index Makes Third Straight Gain in June

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NEW YORK, N.Y. The Dodge Momentum Index gained 3.3 percent in June to 128.7 (2000=100), its third consecutive increase following hesitation in February and March, according to McGraw Hill Construction, a division of McGraw Hill Financial. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. The Dodge Momentum Index appears to be recovering from the weather-induced softness early in the year. Aided by this recent strengthening, the Momentum Index was a healthy 22.6 percent higher … Read more

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Construction Employment Below Peak Levels, Recovery Remains Choppy

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Construction firms added jobs in 38 states and the District of Columbia over the past 12 months, but they reduced headcount in 27 states between May and June, according to an analysis of Labor Department data by the Associated General Contractors of America. Association officials said the employment gains help, but that construction employment remains below peak levels in every location except North Dakota. “The overall trend in construction employment remains favorable, with three-fourths of states adding jobs on a year-over-year basis,” said Ken Simonson, the association's chief economist. “But the recovery remains choppy, not steady. In June, monthly gains … Read more

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Q3 Economic Outlook Revises 2014 Equipment, Software Investment Growth Forecast

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WASHINGTON, D.C. — Investment in equipment and software is expected to grow 2.6 percent in 2014, according to the Q3 update to the 2014 Equipment Leasing & Finance U.S. Economic Outlook released by the Equipment Leasing & Finance Foundation. The foundation revised its 2014 equipment and software investment forecast to 2.6 percent, down from 4.2 percent growth forecast in its Q2 Update to the 2014 Annual Outlook released in April. The Q3 report expects equipment and software investment to have modest sector growth during the rest of the year after a weak start. The foundation report, which is focused on … Read more

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Report Indicates U.S. Construction Costs Gain Largest Increase Since 2008

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PHOENIX, Ariz. — Rider Levett Bucknall announced a 1.15 percent increase in U.S. construction costs in the first quarter of 2014 (4.6 percent on an annualized basis), the largest since July 2008, despite a slight 0.10 percent rise in GDP for the same period. The firm published its findings in its newly released Second Quarter 2014 USA Construction Cost Report. According to Rider Levett Bucknall's research, for the past six years, overall construction costs have been relatively flat and are beginning to show evidence of spiking. These increases result from a variety of factors including increased construction activity, easing of … Read more

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Burbank Water and Power Building Receives LEED Platinum Certification

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The U.S. Green Building Council recently awarded Burbank Water and Power's new Electrical Services Building LEED Platinum certification. General contractor Swinerton Builders Los Angeles completed the project on a fast-track schedule in July 2013. The two-story, 17,000-square-foot building houses its electrical equipment testing and relay shops, a high bay shop featuring a 10-ton crane, supervisors and engineering office space, a training room, a lunch room, restrooms, locker rooms and showers. The Type II moment frame slab-on-grade structure has a lathe and plaster exterior with a stucco coating. The Swinerton team followed a strict LEED Platinum standard during construction, with points … Read more

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