Rider Levett Bucknall Releases Q3 USA Construction Report

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PHOENIX, Ariz. – In its latest quarterly survey of U.S. construction costs, international property and construction cost-consultant firm Rider Levett Bucknall reports that construction spending in the United States is on track to increase approximately 6 percent in 2016. Overall, the national average increase in construction costs for the quarter was approximately 1.5 percent. While spending is falling short of the robust 20 percent growth seen by select segments of the industry in 2015, the outlook for the construction field is reasonably favorable, notes the report. Continued low interest rates, rising consumer confidence and healthy job growth also contribute to … Read more

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Construction Spending Remains Steady in July, Up by 5.6% for First Seven Months of 2016

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Construction spending remained steady in July compared to June but is up by 5.6 percent for the first seven months of the year compared to same period in 2015, according to an analysis by the Associated General Contractors of America. Association officials said the growth in construction spending is occurring as most construction firms report they are having a hard time finding skilled craft workers to keep pace with demand. “On balance, there is still strong demand for construction, especially for multifamily and private nonresidential structures, while home building continues an uneven recovery,” said Ken Simonson, the association’s chief economist. … Read more

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Architecture Billings Index Moderates Slightly, Remains Positive

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WASHINGTON, D.C. – The Architecture Billings Index was positive in July for the sixth consecutive month, and tenth out of the last twelve months as demand across all project types continued to increase. 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 July ABI score was 51.5, down from the mark of 52.6 in the previous month. This score still reflects an increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index … Read more

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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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