ABC Chief Economist Predicts Stable 2018 Construction Economy

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WASHINGTON, D.C. – Associated Builders and Contractors Chief Economist Anirban Basu predicts stability for the construction industry’s economy and expanding nonresidential construction spending in 2018. While construction project backlog and contractor confidence remain high heading into the new year, Basu warns there are risks to the 2018 outlook as a number of potential cost increases could come into play. “With wage pressures building, healthcare costs surging and fuel prices edging higher, inflation is becoming more apparent,” Basu said. “That could translate into some meaningful interest rate increases in 2018, which all things being equal is not good for construction spending. … Read more

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Architecture Billings Upturn Shows Broad Strength

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WASHINGTON, D.C. – Even with the uncertainty related to pending tax reform legislation that likely will have a mixed effect on the construction industry, design services at architecture firms remains in high demand. The American Institute of Architects reported the November ABI score was 55.0, up from a score of 51.7 in the previous month. This score reflects an increase in design services provided by U.S. architecture firms (any score above 50 indicates an increase in billings). The new projects inquiry index was 61.1, up from a reading of 60.2 the previous month, while the new design contracts index rose … Read more

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PREMIER Completes Construction of Warehouse in Nashville Suburb

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ITASCA, Ill. – Nashville, Tennessee is home to the third-fastest growing economy of all cities in the United States, and it’s not all about the music. In fact, Music City and the entire Middle Tennessee region is in a boom period thanks to the robust presence of healthcare, automotive, insurance, finance and publishing companies. With businesses moving to Tennessee and new and established companies growing rapidly, the need for modern industrial facilities has become evident. HSA Commercial Real Estate is working with PREMIER Design + Build Group, LLC to fill some of that demand with new construction in the area … Read more

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Construction Jobs Numbers Rebound in November

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WASHINGTON, D.C. – The nation’s construction sector added 24,000 net new jobs in November, representing a 0.3 percent month-over-month increase, according to an Associated Builders and Contractors analysis of Bureau of Labor Statistics data recently released. Nonresidential construction employment added 8,600 net new jobs in November, a figure that would have been substantially higher were it not for heavy and civil engineering, which lost 7,800 for the month. In October, nonresidential construction firms shed 3,600 net positions. The construction industry unemployment rate increased by 0.5 percentage points and now stands at 5 percent. While this increase is likely due to … Read more

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Dodge Momentum Index Remains Strong in November

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NEW YORK, N.Y. – The Dodge Momentum Index surged again in November, climbing 13.9 percent to 149.5 (2000=100) from the revised October reading of 131.3. 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 November increase was the second month of strong gains after a four-month period of softness. November’s advance was the result of healthy gains in both the commercial and institutional sectors. From October to November, the commercial portion of the momentum … Read more

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