Washington, D.C. — Associated Builders and Contractors (ABC) reports that the nation's Construction Backlog Indicator (CBI) for July rose 8.9 percent to 6.1 months from 5.6 months in June. The CBI is a gauge on the amount of construction work to be completed, measured in time, currently under contract. “While the magnitude of the monthly increase was significant and impressive, June was the lowest point for the CBI since ABC began collecting national data in November 2008. At that time, the CBI stood at 7.1 months, or 14 percent above its current level of 6.1 months,” said ABC … Read more
Total Construction Spending Expected to Keep Falling in 2010
Rebound expected in 2011 and 2012 LEXINGTON, MASS. — Because of a collapse in nonresidential construction and despite an expected recovery of residential building in the second half of 2009, total construction spending on an annual basis is expected to fall 12 percent this year and 4 percent in 2010, according to the Third Quarter U.S. Construction Briefing by IHS Global Insight’s Construction Service. Real total construction spending is expected to rebound with double-digit growth on an annual basis in 2011 and 2012, according to the IHS Global Insight forecast. The mixed outlook for the construction market mirrors the mixed outlook for the … Read more
Ohio State Trustees Affirm $1B ProjectONE Medical Center Plan
COLUMBUS, Ohio — Architecture and construction plans for ProjectONE, an expansion project for The Ohio State University that will significantly advance the Medical Center’s education and research programs and improve patient care, were approved today on September 18 by The Ohio State University Board of Trustees. This is one of the largest job-generating initiatives in Ohio's history. It is projected to create as many as 10,000 new full-time jobs and more than 5,000 construction jobs. ProjectONE will provide the community with $1.7 billion in annual economic impact by 2015, which is in addition to the more than $4 billion in … Read more
Polished Concrete Gets Its Own Section In MasterFormat
The importance of concrete polishing in construction has been given official recognition with the creation of a new section in the MasterFormat system published by the Construction Specifications Institute (CSI) and Construction Specifications Canada (CSC). The new section number and name, 03 35 43 – Polished Concrete Finishing, underscores the burgeoning use of polished concrete, and gives design professionals a unique category for specifying appropriate materials- and performance-requirements. The new section was created in response to a proposal initiated by David Loe, a veteran concrete polisher and president of Lythic Solutions, Inc., Vancouver, WA, makers of colloidal silica-based … Read more
Construction Cost Trend Remains Negative Despite August Increases, Top Construction Economist Notes
Latest Producer Price Index Figures Point to ‘Limited-Time Sale’ For Construction Services Despite increases in construction costs in August, new figures released today by the U.S. Bureau of Labor Statistics indicate that prices for the sector remain significantly down from a year ago, the chief economist for the Associated General Contractors of America said today in analyzing the data. Simonson noted that the producer price index (PPI) for inputs to construction industries, a weighted average of the costs of all materials used in every type of construction, increased 1.1 percent in August compared to the previous month. He noted that … Read more