June Construction Starts Retreat 15%

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NEW YORK, N.Y. — New construction starts in June dropped 15 percent from the previous month to a seasonally adjusted annual rate of $620.2 billion, according to Dodge Data & Analytics. The decline followed an especially strong May, which benefitted from a $9-billion liquefied natural gas export terminal in Texas being entered as a May start. By major sector, non-building construction in June fell sharply as the result of a steep pullback by its electric utility and gas plant category, while nonresidential building witnessed a less severe loss of momentum. Residential building in June was able to post a slight … Read more

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Paul Haining, Clark Peterson Promoted in Skanska Environmental, Health and Safety Roles

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NEW YORK, N.Y. — Paul Haining was recently named Skanska’s chief environmental, health and safety officer, filling the role held by Hendrik van Brenk, who is retiring after more than eight years with the company and 30 years in the industry. Additionally, Clark Peterson is being promoted into Haining's former role as Skanska USA Civil vice president for EHS. As chief EHS officer, Haining will be responsible for leading the company's national safety and environmental programs including strategic planning and upholding Skanska's Injury-Free Environment. He will serve on the leadership teams for Skanska USA Inc., Skanska USA Building and Skanska … Read more

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Increasing Construction Activity Leads to Cost Increases

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Turner Construction Company announced that the second quarter 2015 Turner Building Cost Index — which measures costs in the non-residential building construction market in the United States — has increased to a value of 938. This reflects a 1.19 percent increase from the First Quarter 2015 and a 4.69 percent yearly increase from the second quarter 2014. The construction industry continues to experience a shortage in skilled labor, as high volume work continues to expand in 2015. This shortage is creating a strong upward pressure on construction costs. Raw materials continued to experience minor cost decreases and manufactured product costs … Read more

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Q3 Economic Outlook Forecasts 5% Growth in Equipment and Software Investment

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WASHINGTON, D.C. — Investment in equipment and software is expected to grow 5 percent in 2015, according to the Q3 update to the 2015 Equipment Leasing & Finance U.S. Economic Outlook recently released by the Equipment Leasing & Finance Foundation. As the U.S. economy rebounds from a disappointing Q1, the report predicts that business confidence will improve, which should encourage greater investment over the second half of 2015. The outlook for 12 individual equipment and software verticals tracked in the report is mixed, with some sectors outperforming others. The Foundation's Economic Outlook, which is focused on the $903-billion equipment leasing … Read more

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Construction Unemployment Falls to Lowest June Level Since 2001, Officials Warn of Growing Worker Shortage

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Construction employment held steady in June at the highest level in six years, while the number of unemployed workers with construction experience fell to the lowest total since 2001, according to a recent analysis by the Associated General Contractors of America. Association officials said the new data indicates contractors are having a hard time finding enough qualified workers to meet growing demand in many parts of the country. “Expanding job opportunities throughout the economy make it increasingly difficult for contractors to find experienced construction workers,” said Ken Simonson, the association’s chief economist. “This scarcity shows up in record work weeks … Read more

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