Projections Reveal Nonresidential Construction Spending to Grow

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Spending on nonresidential buildings nationally increased only modestly last year, barely outpacing inflation in building costs. Halfway through the seventh year of continuous growth for the cyclical construction industry, 2018 might have looked to be the year that the industry would enter another recession. However, when polled at the beginning of this year, the AIA Consensus Construction Forecast Panel—consisting of leading economic forecasters— instead saw acceleration in activity, projecting 4 percent growth in 2018 and a nearly equal 3.9 percent in 2019. “At the halfway point of the year, this panel is even more optimistic,” said AIA Chief Economist Kermit … Read more

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Construction Material Prices Increase Steadily in June, Says ABC

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WASHINGTON, D.C. – According to a recent Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics data, construction material prices rose another .8 percent in June and are 9.6 percent higher than they were at the same time one year ago. June represents the latest month associated with rapidly rising construction input prices. Nonresidential construction materials prices effectively mirrored overall construction prices by rising .9 percent on a month-over-month basis and 9.8 percent on a year-over-year basis. “In general, this emerging state of affairs is unfavorable,” said ABC Chief Economist Anirban Basu. “Rapidly rising materials prices interfere with … Read more

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DPR Construction Receives 4 Project Awards for Construction Excellence

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The Georgia chapter of the Associated Builders and Contractors recently recognized DPR Construction with two Excellence in Construction awards for Clemson University’s Allen N. Reeves Football Complex and Camp Southern Ground’s Peterson Dining Hall. The EIC award celebrates the innovation and vision of the project team. Projects are judged on a variety of criteria such as safety, personnel management, quality control, scheduling and degree of difficulty. Additionally, the South Atlantic chapter of the Construction Management Association of America named Emory John’s Creek Hospital Radiology Observation Care Unit and Clinical Decision Unit a “Best in Class” new healthcare project. The award … Read more

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ABC, JLG Form Strategic Partnership to Advance Innovation in Construction

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WASHINGTON, D.C. – National construction trade association Associated Builders and Contractors and access equipment manufacturer JLG Industries Inc. announced a strategic partnership that will help solve industry challenges with world-class education, training and equipment solutions. The announcement was made by company executives in Washington, D.C., during ABC’s Legislative Week. “ABC and JLG are committed to continual innovation to ensure ABC members using JLG tools and equipment have what they need to tackle any job—safely and productively,” said Michael D. Bellaman, ABC president and CEO. “In collaboration with ABC members, JLG will receive feedback to further develop state-of-the-art products and training … Read more

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ABC’s Construction Confidence Index Surges in Q1

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WASHINGTON, D.C. – Despite ongoing concerns regarding labor force availability and rising interest rates, and emerging concerns regarding tariffs and construction materials prices, construction contractors emerged from the first quarter of 2018 with tremendous confidence, according to the Associated Builders and Contractors Construction Confidence Index. Each of the three indices—sales, profit margins and staffing levels—increased during the first quarter and remain well above the threshold reading of 50. The CCI for sales expectations increased from 67.1 to 72.2 during the first quarter of 2018 The CCI for profit margin expectations increased from 60.7 to 63.4 The CCI for staffing levels … Read more

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