WASHINGTON, D.C. — After a sharp dip in September, the Architecture Billings Index climbed nearly three points in October. 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 October ABI score was 49.4, following a score of 46.9 in September. This score reflects an overall decrease in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 57.3, up from a reading of 54.3 the previous month. “An increase … Read more
Construction Materials Prices Down Slightly in October
The amount contractors pay for a range of key construction materials dropped slightly (-0.6 percent) in October but climbed 6.9 percent from the year-earlier level, according to an analysis of producer price index figures released by the Associated General Contractors of America. Meanwhile, the price contractors charge for new nonresidential building construction edged up only 3.3 to 4.3 percent over 12 months, depending on building type. “While the gap is beginning to narrow just a bit, prices for most construction materials have risen far more during the past year than the amount contractors can charge for completing construction projects,” said … Read more
AEM Announces Winners of Inaugural Pillar of the Industry Awards
The Association of Equipment Manufacturers and the I Make America campaign announced the recipients of the first annual Pillar of the Industry award: Angus-Palm, Caterpillar Inc., International Construction Equipment and Stone Construction Equipment. The four companies were recognized for outstanding contributions to the people and communities of the equipment-manufacturing industry through extensive I Make America campaign activities. I Make America is a grassroots campaign that was launched one year ago to dramatically improve American manufacturing policies to create more jobs in the U.S. and keep the economy competitive with other countries. The campaign has enlisted the support of more than … Read more
Turner Construction Company Establishes Partnership with Clark Builders
NEW YORK — Turner Construction Company and Clark Builders have established a partnership that will increase the capacity of each company to provide construction services to clients in the Canadian marketplace. Clark Builders now has access to additional financial and management resources that will provide a platform for expanding its services. The partnership provides Turner with a 51-percent stake in Edmonton-based Clark which augments Turner’s current operations in Toronto and Vancouver, Canada. Established in 1974, Clark Builders is owned by employees of the company, who continue to hold 49 percent of its shares. Clark specializes in the construction of institutional, … Read more
AIA Report Finds Ongoing Credit Crunch Accounts for 20% of Stalled Projects Nationwide
Persistent Financing Crunch Continues to Plague Design, Construction Sector WASHINGTON, D.C. — The American Institute of Architects released a comprehensive report that concludes that the major obstacle holding back job creation in the United States is the persistent lack of construction financing, despite record low interest rates. “This report should lay to rest any doubt about what is a key source for holding back job creation in the United States," said Kermit Baker, chief economist of the AIA. “It is the lack of financing especially to the design and construction sector, which accounts for $1 in $9 of U.S. Gross … Read more



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