Economy: Page 16

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    Sergey Pakulin via Getty Images
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    2023 OUTLOOK

    New year, new challenges for IIJA

    Inflation, labor shortages and supply chain snarls could hamper federal infrastructure act work in the coming year.

    By • Jan. 10, 2023
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    Courtesy of UT Health San Antonio
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    2023 OUTLOOK

    Sector watch: Lab, hospital projects will keep institutional building healthy

    Government stimulus will help healthcare, education and other institutional projects grow in 2023, according to a construction economist.

    By • Jan. 10, 2023
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    John Moore via Getty Images
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    2023 OUTLOOK

    What’s keeping contractors up at night?

    Supply chain chaos and an impending recession are among builders’ top concerns in 2023, according to a new survey.

    By • Jan. 9, 2023
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    Courtesy of Intel
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    2023 OUTLOOK

    Sector watch: Overall commercial starts to tumble this year

    Manufacturing and data center projects will prop up U.S. construction as work slows on retail projects, warehouses and offices.

    By • Jan. 9, 2023
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    Mario Tama via Getty Images
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    New York-area infrastructure gets a boost from $8.3B Port Authority budget

    The 2023 approved capital budget includes $2.9 billion to redevelop three major airports and replace the Midtown Bus Terminal in New York City.

    By • Jan. 3, 2023
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    kali9/E+ via Getty Images
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    2023 OUTLOOK

    Inflation could sap infrastructure act’s buying power this year

    High costs for materials, fuel and labor mean jurisdictions aren’t getting as much of a budget bump as they’d hoped from the federal legislation.

    By • Jan. 3, 2023
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    Courtesy of Harbor-UCLA Medical Center
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    Nonresidential construction starts plunge 25%

    Higher interest rates and recession fears likely restrained starts activity in November, said Dodge Construction Network Chief Economist Richard Branch.

    By • Dec. 21, 2022
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    Win McNamee via Getty Images
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    Fed raises main rate by half point, signals higher level in 2023

    Fed Chair Jerome Powell said that recent progress in reducing inflation is not enough to forestall increases in borrowing costs in 2023.

    By Jim Tyson • Dec. 15, 2022
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    Courtesy of MYCON General Contractors
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    Q&A

    Dallas GC plans Sun Belt expansion to weather 2023 slowdown

    A MYCON exec mapped out how the firm will go on the offensive to deal with an expected recession next year.

    By • Dec. 13, 2022
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    Tom Shaw via Getty Images
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    Balfour Beatty predicts higher profits in year-end update

    The London-based contractor expects to end the fiscal year with more cash and a higher backlog than anticipated.

    By • Dec. 12, 2022
  • ABC construction at The Boro in Tysons, VA
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    Courtesy of Associated Builders and Contractors
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    Construction input prices tick down as supply chains improve

    Although the cost of most materials has declined, contractors still face financial challenges on the labor side, according to Associated Builders and Contractors.

    By • Dec. 9, 2022
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    Blue Planet Studio via Getty Images
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    US could skirt recession, former Fed economist says

    Inflation and economic uncertainty top business leaders’ worries, but easing supply chain pressures and a strong labor market could help avert a recession.

    By Grace Noto • Dec. 9, 2022
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    ljubaphoto via Getty Images
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    Construction planning numbers increase for third consecutive month

    Despite growth, labor challenges, supply shortages and high interest rates could decelerate planning activity over the next 12 months, according to Dodge Senior Economist Sarah Martin.

    By • Dec. 8, 2022
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    Maria Turova via Getty Images
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    Tech sector decline saps office construction comeback

    In-office occupancy is at the highest level since the pandemic began, but Big Tech's woes have undercut the office sector's recovery, a Newmark report says.

    By • Dec. 7, 2022
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    ilkercelik via Getty Images
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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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    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
  • Samsung's existing semiconductor manufacturing facility in Austin, Texas.
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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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    skynesher/E+ via Getty Images
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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