Groundbreaking Ceremony Launches Construction of $500M Terminal 1 Modernization Program At LAX

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DALLAS, Texas — Southwest Airlines helped kick off construction of the $508-million Terminal 1 Modernization Program at Los Angeles International Airport with a groundbreaking ceremony on Sept. 16 featuring Los Angeles MayorEric Garcetti, City Councilman Mike Bonin, City Councilman Tom LaBonge, Los Angeles Airport Commission President Sean O. Burton, Los Angeles World Airports (Executive Director Gina Marie Lindsey and Southwest Airlines Vice President of Airport Affairs Bob Montgomery. The modernization of the aging terminal, built in the early 1980s, is expected to transform the entire passenger experience from the curb to the gate, and will include a new 12-lane security … Read more

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ELFA Survey of Economic Activity Reports on MLFI

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WASHINGTON, D.C. — The Equipment Leasing and Finance Association's Monthly Leasing and Finance Index, which reports economic activity from 25 companies representing a cross section of the $827-billion equipment finance sector, showed their overall new business volume for August was $7.2 billion, up 13 percent from new business volume in August 2013. Month over month, new business volume was down 9 percent from July. Year-to-date, cumulative new business volume increased 6 percent compared to 2013.   Receivables over 30 days increased from the previous month to 1.3 percent, and were up from 1 percent in the same period in 2013. … Read more

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Architecture Billings Index Exhibits Continued Strength

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WASHINGTON, D.C. — On the heels of recording its strongest pace of growth since 2007, there continues to be an increasing level of demand for design services signaled in the latest Architecture Billings Index. As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lead time between architecture billings and construction spending. The American Institute of Architects reported the August ABI score was 53.0, down from a mark of 55.8 in July. This score reflects an increase in design activity (any score above 50 indicates an increase in billings). The new projects inquiry index … Read more

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Construction Employment Increases in 36 States during Past Year

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Construction firms added jobs in 36 states between August 2013 and August 2014, while construction employment increased in 28 states between July and August, according to an analysis of Labor Department data by the Associated General Contractors of America. Association officials noted construction activity continues to spread across most of the nation even, as employment gains remain uneven by month and state. “The number of states with increases in construction employment over the last 12 months moderated in August but remained strongly positive as construction activity continues to spread across most of the nation,” said Ken Simonson, the association's chief … Read more

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Dodge Momentum Index Makes Small Gain in August

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NEW YORK, N.Y. — The Dodge Momentum Index made a small gain in August, increasing to 118.8 (2000=100) for the month, up 0.2 percent from the July reading. The improvement in August is on the heels of a 5.7 percent decline in July, 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 Momentum Index is now 13.9 percent higher than one year ago, … Read more

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