Construction Spending Slips in May, Rises First Five Months of 2016

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Construction spending dipped in May but posted strong, broad-based gains for the first five months of 2016 compared to the same period in 2015, according to a recent analysis by the Associated General Contractors of America. Association officials said the construction spending gains come amid signs that contractors are having an increasingly hard time finding qualified workers to hire. “Mild winter weather in many regions early in 2016, followed by extreme rains in some locations in May, has probably distorted monthly spending patterns but shouldn’t mask the robust widespread growth in demand for construction so far this year,” said Ken … Read more

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Healthy Demand for All Building Types Signaled in ABI

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WASHINGTON, D.C. – Led by a still active multi-family housing market and sustained by solid levels of demand for new commercial and retail properties, the Architecture Billings Index has accelerated to its highest score in nearly a year. As a leading economic indicator of construction activity, the ABI reflects the approximate 9-12-month lead time between architecture billings and construction spending. The American Institute of Architects reported the May ABI score was 53.1, up sharply from the mark of 50.6 in the previous month. This score reflects an increase in design services (any score above 50 indicates an increase in billings). … Read more

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Construction Spending Posts Solid Monthly, Year-Over-Year Increases in March

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Construction spending increased by 8 percent in March compared to a year earlier and was also up slightly between February and March amid growing demand for many types of construction, as the spending total hit the highest level since October 2007, according to a recent analysis by the Associated General Contractors of America. Association officials said the growth comes amid strong private-sector demand and new federal investments in surface transportation programs. “Construction should be a significant contributor to economic growth in the remainder of 2016 and beyond,” said Ken Simonson, the association’s chief economist. “Right now the biggest challenge for … Read more

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Construction Spending Posts Strong Monthly, Year-Over-Year in January

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Construction spending soared in January from a month earlier and all major segments posted hefty year-over-year gains, pushing the total to the highest level since October 2008, according to a recent analysis by the Associated General Contractors of America. Association officials said the new spending figures indicate that demand for construction remains robust amid broader economic concerns. “There were solid gains for both the month and year in apartment, nonresidential and highway construction,” said Ken Simonson, the association’s chief economist. “Although favorable weather may have boosted these results, demand for many types of projects remains strong despite worries that the … Read more

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Construction Spending Forecast at 9.7 Percent Growth in 2016

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PROVIDENCE, R.I. – Gilbane Building Company has released its winter economic report: Building for the Future Construction Economics: Market Conditions in Construction, which provides an overview of 2015-2016 trends that impact growth, spending and the labor market that shape the construction industry. The report shows that this may end up the most active three-year period of growth in construction in more than 20 years, having been ongoing since 2013-2014 periods. With the forecast for 2016 taken into account, spending growth could reach a new three-year high. For those expecting growth, the nonresidential buildings construction boom could become an historic expansion. … Read more

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