Construction spending dipped from October to November, but resolution of the uncertainty regarding federal taxes for 2013 should unleash more private construction investment, according to an analysis of new federal data released today by the Associated General Contractors of America. Association officials warned, however, that unresolved issues about federal construction spending, including storm relief for northeastern states, will hold down public construction spending. “Preliminary data from the Census Bureau for November shows overall construction spending slipped 0.3 percent from October's total after seven months of steady gains,” said Ken Simonson, the association's chief economist. “The more significant comparison, however, is … Read more

Washington, D.C. — Billings at architecture firms across the country continue to increase.   As a leading economic indicator of construction activity, the Architecture Billings Index reflects the approximate nine- to twelve-month lag time between architecture billings and construction spending.   The American Institute of Architects reported the November ABI score was 53.2, up from the mark of 52.8 in October.   This score reflects an increase in demand for design services (any score above 50 indicates an increase in billings).   The new projects inquiry index was 59.6, up slightly from the 59.4 mark of the previous month. You … Read more