Economy: Page 13

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    5 charts that hint at what’s in store for construction in 2023

    The industry will continue to face labor shortages, high materials costs and other headwinds, but infrastructure will be a bright spot.

    By • Dec. 6, 2022
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    ilkercelik via Getty Images
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    9 of the year’s top construction stories

    The economy, lawsuits, labor challenges and supply chain woes: These are the topics that have resonated most with readers in 2022.

    By Construction Dive Staff • Dec. 1, 2022
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    Trendline

    Top 5 stories from Construction Dive

    Construction Dive editors curate some of the industry’s top stories from this year.

    By Construction Dive staff
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    kupicoo via Getty Images
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    Did the pandemic really kill just-in-time? Experts weigh in.

    Supply chain pros say the lean operating model may need to make a comeback to maintain resilience while keeping costs down.

    By Sarah Zimmerman • Dec. 1, 2022
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    Paul Bradbury via Getty Images
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    Q&A

    VC firm launches $52M fund for contech, real estate

    Max Brickman, managing director of Heartland Ventures, said contech will ride construction’s unmet demand to become a leading sector in the overall tech space.

    By • Nov. 30, 2022
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    Courtesy of Samsung
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    Commercial real estate downturn to slow construction starts in 2023

    Dodge Chief Economist Richard Branch expects pullbacks in the warehouse, office, hotel and retail sectors.

    By • Nov. 30, 2022
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    Mario Tama via Getty Images
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    Biden calls on Congress to prevent rail shutdown

    A rail workers’ strike would carry devastating consequences for the economy and compound supply chain woes, business leaders say.

    By Sarah Zimmerman • Nov. 29, 2022
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    Ron and Patty Thomas via Getty Images
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    Diesel’s big price jump puts pressure on contractors

    The quadrupling of the fuel's price has both caused and been exacerbated by supply-side kinks as project costs climb.

    By • Updated Nov. 30, 2022
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    ABI breaks bad in October

    Design work on architects' boards slowed considerably after nearly two years of growth. 

    By • Nov. 22, 2022
  • construction at The Boro in Tysons, VA
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    Permission granted by Associated Builders and Contractors
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    U.S. will ‘narrowly avoid recession’: Goldman Sachs

    The Fed will slow the pace of tightening next month and early next year but won’t cut the federal funds rate until Q2 2024, Goldman Sachs predicted.

    By Jim Tyson • Nov. 21, 2022
  • Rendering of Texas Instruments semiconductor plant in Sherman, Texas
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    Courtesy of Texas Instruments
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    Total construction starts jump 8% following 2-month decline

    Nonresidential and nonbuilding starts led the increase, while residential starts tumbled, according to the Dodge Construction Network report.

    By • Nov. 17, 2022
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    kali9 via Getty Images
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    Construction input prices creep higher

    Despite the climb in nonresidential input costs, most materials saw month-to-month decreases, per an Associated Builders and Contractors analysis.

    By • Nov. 17, 2022
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    Permission granted by Associated Builders and Contractors
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    Backlog falls below pre-pandemic level, optimism lingers

    Backlog in the commercial and institutional category posted its largest monthly decline since July 2020, according to Associated Builders and Contractors.

    By • Nov. 15, 2022
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    Michael Santiago/Getty Images via Getty Images
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    AECOM beats on earnings, misses on revenue

    The firm's CEO said slower-than-expected IIJA funding has pushed back the timeline of infrastructure construction projects.

    By • Nov. 15, 2022
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    ilkercelik via Getty Images
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    Construction’s supply chain outlook: more shortages, price hikes ahead

    Analysts and contractors break down prices and lead times for concrete, cement, steel, lumber, insulation, drywall and HVAC equipment in the coming year.

    By • Nov. 14, 2022
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    Michael M. Santiago via Getty Images
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    WSP posts rosy Q3 revenue and backlog, increases guidance

    The Montreal-based mega contractor also reported massive workforce growth in the past year, due in large part to its acquisition spree.

    By • Nov. 10, 2022
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    Sergey Pakulin via Getty Images
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    CRE developers reveal their biggest challenges for 2023

    “If you’re in real estate, you are in a recession,” said the author of a new study looking at the main drivers of anxiety among owners.

    By • Nov. 10, 2022
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    skodonnell via Getty Images
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    Late payments cost construction industry $208B in 2022: report

    Amidst a turbulent economic climate, delayed payments are leading to project holdups and work stoppages, according to respondents of a new survey.

    By • Nov. 10, 2022
  • Team of one women architect and two men architects on a construction site. They are looking at blueprint. They are discussing about their project. Shot from above.
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    vitranc via Getty Images
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    Top 10 causes of construction claims

    Firms need to turn to technology to help avoid issues like scope changes and incomplete design, according to a new report.

    By • Nov. 2, 2022
  • ABC Construction at The Boro on Thursday, June 28 in Tysons, VA.
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    Permission granted by Associated Builders and Contractors
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    Investment in structures tumbles in Q3

    Real nonresidential investment posted its steepest decline since the second quarter of 2020, even as the U.S. economy expands, according to an Associated Builders and Contractors report.

    By • Nov. 1, 2022
  • An overhead view of waterfront offshore wind turbine construction.
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    Courtesy of Skanska USA
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    Skanska profits dip as backlog rises

    Amid economic uncertainties, CEO Anders Danielsson said commercial construction work and bookings remain strong.

    By • Oct. 31, 2022
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    ljubaphoto via Getty Images
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    Sponsored by GCPay

    Why you can no longer afford to make late payments

    In a pay-when-paid industry like construction, late payments are often the rule, not the exception. The lower down the chain you are, the longer it takes to get paid—and the more these late payments can hurt financial stability and cashflow.

    Oct. 31, 2022
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    Courtesy of Granite Construction
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    Granite Construction’s profits flat, revenue falls in Q3

    The Watsonville, California-based contractor nonetheless raised its guidance, and expects a stronger 2023 as it burns the last of its less profitable projects and snags IIJA work.

    By • Oct. 28, 2022
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    Q&A

    Use tech to combat ‘Neanderthal’ thinking in construction

    Industry guru Barry LePatner talks about the uniqueness of today’s economic challenges, and giving young pros the technology they need to solve them.

    By • Oct. 26, 2022
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    NYC construction spending reaches all-time high of $86B

    The New York Building Congress’ strong outlook for the city’s building industry could be hampered by a lack of tax incentives for multifamily projects and other headwinds, per its report.

    By • Oct. 25, 2022
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    kali9/iStock.com

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    Sponsored by Omega Accounting Solutions

    Should construction companies file for the employee retention credit?

    If your business continued to pay full payroll tax amounts during the pandemic, you now may be entitled to hundreds of thousands of dollars from the IRS through the ERC.

    Oct. 24, 2022