New Natural Resources Headquarters Tops Out

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The New Natural Resources Headquarters project in Sacramento, California topped out with its last piece of structural steel at 344 feet. The 22-story office tower will be the new headquarters for the State of California Natural Resources Agency. The project team included Turner Construction Company and Design-Build partners, AC Martin; members from Turner Engineering Group and design consultants, trade partners and owners group. The project, which will be Sacramento’s tallest building since 2009, broke ground one year ago, and has been making an impression in the city ever since. Turner has been ensuring minimal impacts to the busy downtown community, … Read more

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Dodge Momentum Index Posts Recent Gain

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The Dodge Momentum Index moved 4.1% higher in September to 143.6 (2000=100) from the revised August reading of 137.9. The momentum index, issued by Dodge Data & Analytics, 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 gain in September was due entirely to an 8.9% increase in the commercial component, while the institutional component fell 4.8%. For the third quarter, the overall momentum index averaged 140.1, a scant increase of 0.7% from its average in the … Read more

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Marcum Commercial Construction Index Reports Nonresidential Construction Industry Slows, Economy Cools 

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The Marcum Commercial Construction Index for the second quarter of 2019 reports construction spending slowing as the economy signals confusion and indecisiveness. Nonresidential construction spending declined 1.8% on a monthly basis in June but is up 2.3 % year-over-year. Total nonresidential spending in June was $773.8 billion on a seasonally adjusted annual basis, as compared to $756.4 billion in June 2018. The index is produced by Marcum’s National Construction Services group.   Eleven of the 16 nonresidential construction sectors expanded year-over-year, including lodging, office, healthcare, public safety, amusement and recreation, transportation, highway and street, sewage and waste disposal, water supply, … Read more

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Contractors Share Perception of Resilient Building amid Peak Hurricane Season

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The Q3 2019 USG Corporation + U.S. Chamber of Commerce Commercial Construction Index recently released climbed to a record high score of 77, up from 74 in Q2 2019. Half of all contractors expect revenue increases over the next year, rising 14 points quarter-over-quarter. Also, notably higher is the expectation for profit margins to increase in the next year, which grew by 12 points between Q2 and Q3 2019. The majority (58%) of contractors report they are highly confident that the next 12 months will bring sufficient business opportunities, a six-point growth over Q2. This is the largest percentage in the last … Read more

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Construction Employment Grows in 252 out of 358 Metro Areas from August 2018 to August 2019, says AGC

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Construction employment grew in 252 out of 358 metro areas between August 2018 and August 2019, declined in 60 and was unchanged in 46, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said that while firms are finding ways to add staff, a recent survey found 80% of contractors are having a hard time finding enough workers to hire. “Construction firms would likely be adding even more jobs if they could find more qualified workers to hire,” said Ken Simonson, the association’s chief economist. “But tight labor market conditions … Read more

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