Economy: Page 15

  • A construction worker in a reflective vest wipes his face as he shelters under a tree, while construction machinery and other workers stand in the background.
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    Fed unlikely to avoid recession: economists

    Almost 50% of economists believe a downturn will begin by the first quarter of 2023, according to a new survey.

    By Jim Tyson • Aug. 23, 2022
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    Chicago, Milwaukee top Mortenson’s construction costs list

    Of the seven cities surveyed in the firm’s Q2 cost index, prices rose the most in traditionally affordable markets.

    By • Aug. 18, 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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    The most recession-proof sectors for construction

    Contractors’ safest bet remains federally funded work, while private jobs could dry up during a downturn, experts say.

    By • Aug. 18, 2022
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    Courtesy of Balfour Beatty
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    Balfour Beatty reports higher profits on flat revenues

    The London-based contractor increased its backlog and is bullish on the U.S. infrastructure market as a result of the $1.2 trillion IIJA.

    By • Aug. 18, 2022
  • $2.9 billion BlueOval SK Battery Park Ford plant in Glendale, KY
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    Courtesy of Ford
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    Dodge: Total construction starts surge 48% in July

    The strong jump in starts could slow down by the end of the year, particularly if the Federal Reserve continues to hike up interest rates, said Richard Branch, chief economist at Dodge.

    By • Aug. 16, 2022
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    What a recession would look like for construction

    Industry experts list eight steps builders can take in order to prepare their businesses for an economic downturn.

    By • Aug. 16, 2022
  • An artistic rendering of the new Soo Lock, currently under construction.
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    Courtesy of U.S. Army Corps of Engineers
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    Michigan’s Soo Lock reaches construction milestone, preps for Phase 2

    The lock, first authorized in 1986, finally began construction in 2020. Two major phases remain.

    By • Aug. 15, 2022
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    iStock via Getty Images
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    PPI posts first decline since April 2020

    After 20 months of sequential increases, the producer price index was 0.5% lower last month, the first negative reading since April 2020, with costs for nonresidential construction inputs dipping 1.8%.   

    By • Aug. 11, 2022
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    Procore to expand into fintech services, CEO says

    The company’s new system would purchase materials for subcontractors, securing payment against the property itself using lien rights.

    By • Aug. 10, 2022
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    Ultima_Gaina via Getty Images
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    NYC construction activity still up for the year, but slumps in Q2

    While higher than 2021, Q2's filings were 16% lower than the average since 2008, according to a new report.

    By • Aug. 10, 2022
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    iStock via Getty Images
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    ‘Tougher times ahead’ for construction as July backlogs fall

    As new work and profit expectations decline, ABC’s Anirban Basu said construction activity clearly “has begun to fade.”

    By • Aug. 9, 2022
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    400tmax via Getty Images
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    AECOM raises guidance amid higher profits, lower revenue

    Backlog at the 10th largest U.S. contractor increased by 3.5% to $41.1 billion, but COVID-19 in China and industry staffing shortages remain as challenges.

    By • Aug. 9, 2022
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    Courtesy of Turner Construction
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    July’s job gains ‘shockingly’ strong as construction adds 32K positions

    The news wasn’t all good, though, as it gave the Fed more reason to keep raising interest rates.

    By • Aug. 5, 2022
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    Chunyip Wong via Getty Images
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    Freddie Mac expects multifamily contraction through the end of 2022

    Macroeconomic headwinds include inflation and rising Treasury rates.

    By Mary Salmonsen • Aug. 4, 2022
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    Sean Gallup via Getty Images
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    Construction job openings plunged by 71,000 in June

    Vacancies in the industry fell 17.5% as the debate over whether the U.S. is in a recession rages on.

    By • Aug. 3, 2022
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    Permission granted by James Kim Photography + PC Construction
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    Did the US just sink into a recession?

    Two consecutive quarters of economic contraction commonly defines a recession, but a construction economist sees growth ahead.

    By • Aug. 2, 2022
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    Mario Tama via Getty Images
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    US economy faces recession question as inflationary pressures continue

    Ongoing pressures raise the question of whether the country is inching toward a recession. That threat is emerging amid conflicting economic indicators.

    By Grace Noto • Aug. 1, 2022
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    Justin Sullivan via Getty Images
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    DOE extends $2.5B loan to build 3 EV battery factories

    The loan would aid construction of new facilities in Ohio, Tennessee and Michigan.

    By • Aug. 1, 2022
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    Courtesy of Granite Construction
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    Granite’s Q2 profit, revenue dip as company continues strategic shift

    The Watsonville, California-based civil contractor said the infrastructure act remains a bright spot ahead as it battles labor woes and works through less profitable projects.

    By • July 29, 2022
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    Justin Sullivan via Getty Images
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    CHIPS Act passes House, secures $52B for semiconductor industry

    Several massive manufacturing-related construction projects are depending on the act in order to move forward.

    By , • July 28, 2022
  • Two construction workers in reflective vests and blue hard hats stand on scaffolding.
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    Scott Barbour via Getty Images
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    Top 10 US metros for construction starts

    The value of the commercial and multifamily sectors rose in top metro areas in the first half of 2022, per a new report.

    By • July 28, 2022
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    Dodge economist: Recession may be 'fairly short'

    A new report acknowledges tumultuous market conditions but highlights infrastructure spending and an emphasis on broadband as strong points.

    By • July 26, 2022
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    Sean Gallup via Getty Images
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    Nonresidential construction starts fall 14%; ABI outlook cloudy

    As recession fears spread, the industry logged a slowdown in commercial, manufacturing and institutional activity last month, while architects’ billings grew at a slower pace. 

    By • July 21, 2022
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    Federal Reserve report signals slowing construction demand

    The Fed’s Beige Book, an anecdotal gauge of business activity, saw moderating commodity prices, fewer building permits and even lower construction staffing needs.

    By • July 19, 2022
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    Nordroden/iStock/Getty Images Plus via Getty Images
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    Peak pricing? June's PPI shows signs of relief for construction materials.

    While nonresidential construction materials costs climbed higher again in June, softening commodity prices may signal the beginning of the end of nonstop escalation.

    By • July 15, 2022