Construction spending totaled $807 billion in November 2011, the highest level since June 2010, as homebuilding, private nonresidential construction and public construction all increased compared to October, the Associated General Contractors of America reported in an analysis of new Census Bureau data. Association officials cautioned, however, that public spending will drop even further in 2012 because of delays in enacting needed infrastructure bills and planned cuts to many federal construction programs. “Several segments of construction appear to be climbing out of a hole,” said the association's chief economist, Ken Simonson. “The new year should reinforce recent year-over-year gains in apartment, … Read more

WASHINGTON, D.C. — Continuing the positive momentum of a nearly three-point bump in October, the Architecture Billings Index reached its first positive mark since August. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to 12-month lag time between architecture billings and construction spending. The American Institute of Architects reported the November ABI score was 52.0, following a score of 49.4 in October. This score reflects an overall increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 65.0, up dramatically from a reading … Read more