Contractor Confidence up Despite Slow Recovery, Finds Marcum Commercial Construction Index

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The Marcum Commercial Construction Index for the first quarter of 2021 reports that the industry has yet to reach the broader economy’s pace of recovery despite elevated contractor confidence. The construction industry has added 917,000 jobs since May 2020, equivalent to roughly 82% of the jobs lost during the initial months of the pandemic. The index is produced by Marcum LLP’s national Construction Services group. “Despite the malaise characterizing a number of commercial real estate segments, contractor confidence increased steadily during the first quarter of 2021,” wrote Anirban Basu, author of the report and Marcum’s chief construction economist. “According to … Read more

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Marcum 4Q Commercial Construction Index Shows Signs of Optimism, Pessimism

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The Marcum Commercial Construction Index for the fourth quarter of 2020 reports that the industry has reasons for optimism and pessimism as it recovers from the recession caused by COVID-19. Total construction employment has rebounded since plummeting in March and April but remains 3.3% below pre-pandemic levels. The index is produced by Marcum LLP’s national Construction Services group.  “Nonresidential construction employment declined by about 644,000 jobs between February and May of 2020 as the pandemic’s grip took firm hold,” wrote Anirban Basu, author of the report and Marcum’s chief construction economist. “As of January 2021, the nonresidential industry had recovered about … Read more

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Marcum Construction Index Shows Industry Holding Steady in COVID-19 Economy

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The Marcum Commercial Construction Index for the second quarter of 2020 reports the industry is holding relatively well in the face of the COVID-19-driven recession. Construction employment has rebounded since plummeting in March and April, and the industry’s unemployment rate stands at 8.9%, below the 10.2% rate observed across all industries. The index is produced by Marcum’s National Construction Services group. “The data indicate that construction has recovered faster than any other major economic segment. Over the three-month period ending in July, the industry recovered 59% of the jobs lost in March and April,” wrote Anirban Basu, author of the … Read more

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Marcum Commercial Construction Index Reports Strong Q4 Driven by Infrastructure Spending

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The Marcum Commercial Construction Index for the fourth quarter of 2019 reports healthy levels of construction spending in large part due to the ongoing strength in infrastructure-related categories.  Nonresidential construction spending stood at an annualized rate of $779.6 billion in December 2019, down 1.2% from the previous month but up 4.4% year-over-year. The index is produced by Marcum’s National Construction Services group. Eleven of the 16 nonresidential construction sectors expanded year-over-year, including massive upticks in publicly funded categories like water supply (+33.6%), conservation and development (+16.9%), highway and street (+14.1%) and public safety (+10.1%). Spending decreased from the same time last year … Read more

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Marcum Commercial Construction Index Reports Nonresidential Construction Industry Slows, Economy Cools 

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The Marcum Commercial Construction Index for the second quarter of 2019 reports construction spending slowing as the economy signals confusion and indecisiveness. Nonresidential construction spending declined 1.8% on a monthly basis in June but is up 2.3 % year-over-year. Total nonresidential spending in June was $773.8 billion on a seasonally adjusted annual basis, as compared to $756.4 billion in June 2018. The index is produced by Marcum’s National Construction Services group.   Eleven of the 16 nonresidential construction sectors expanded year-over-year, including lodging, office, healthcare, public safety, amusement and recreation, transportation, highway and street, sewage and waste disposal, water supply, … Read more

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