Economy: Page 16

  • A construction worker holds directs traffic and holds a sign that says "SLOW."
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    John Moore via Getty Images
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    Construction contractor outlook darkens as profit expectations, backlog fall

    The Associated Builders and Contractors’ confidence index was down for the fourth consecutive month, while backlog dropped slightly and expectations for profits fell into negative territory. 

    By • July 13, 2022
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    breeze393/iStock via Getty Images
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    Infrastructure act

    What contractors need to know about IIJA’s construction tech carve-outs

    Two programs funnel federal dollars to advance the use of technology in construction, but there are key differences, experts said.

    By • July 13, 2022
  • Construction site Explore the Trendline➔
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    sandsun via Getty Images
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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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    Permission granted by Dream Hotel Group
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    $550M hotel-casino latest in Las Vegas entertainment push

    The project is expected to generate significant tax revenue and create about 4,000 new direct and indirect construction jobs.

    By • July 12, 2022
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    Spencer Platt via Getty Images
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    Gilbane sees slivers of hope for material, supply chain woes

    The No. 11 contractor expressed measured optimism for 2022’s second half due to improving lead times and better steel, lumber and copper prices. 

    By • July 12, 2022
  • Construction workers work on an infrastructure project.
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    Construction workers work on an infrastructure project. via Getty Images
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    Why June's upbeat jobs report isn't necessarily positive for construction

    More workers on the job mean fewer job seekers available to fill the 466,000 open positions in the building industries — the largest gap on record. 

    By • July 11, 2022
  • Traffic moves along a highway in San Francisco, California, with buildings and skyscrapers in the background, under a blue sky.
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    Justin Sullivan via Getty Images
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    San Francisco ranked the world's most expensive city for construction

    The city overtakes Tokyo as inflation and supply chain snarls affect markets across the globe.

    By • July 8, 2022
  • slow down
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    Retrieved from Flickr/Tristan Schmurr.
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    Construction's labor, economic numbers begin to show cracks

    As talk of a recession continues, a slower pace in spending and job openings is beginning to emerge from several key indicators, even as wage projections continue to rise.

    By • July 7, 2022
  • Jerome Powell, testimony, U.S. House, Financial Services Committee
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    Win McNamee via Getty Images
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    Fed inflation fight 'highly likely to involve some pain': Powell

    The Federal Reserve chair committed the agency to hitting its 2% inflation target as rising prices undermined consumer expectations and increased the odds of a recession.

    By Jim Tyson • June 30, 2022
  • A rendering in a field of former farmland for the new Intel semiconductor fab in Licking County, Ohio
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    Courtesy of Intel
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    Chip manufacturers press for federal funding as bill flails in Congress

    Intel delayed the groundbreaking ceremony on its Ohio facility, pointing to legislative inaction on the $52 billion CHIPS Act. 

    By • June 29, 2022
  • Construction workers work on an infrastructure project.
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    Construction workers work on an infrastructure project. via Getty Images
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    Rising labor costs eat away at construction firms' profits

    Contractors are paying more for low-skilled workers but aren’t benefiting from increased productivity, economists say.

    By • June 23, 2022
  • Las Vegas Formula 1
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    Permission granted by Colliers
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    What recession? Developers bet on Vegas instead.

    Demand for entertainment projects in Las Vegas remains strong despite economic headwinds and signs of cratering consumer confidence.

    By • June 23, 2022
  • Fed Reserve Chair Jerome Powell standing at podium and adjusting his glasses with his hand.
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    Drew Angerer via Getty Images
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    Recession watch: ABC economist sees 'difficult times' through 2025

    Associated Builders and Contractors' Anirban Basu said the Federal Reserve’s monetary policy to fight inflation will likely tip the economy into recession.

    By • June 16, 2022
  • A trader on the floor of the New York Stock Exchange.
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    Spencer Platt via Getty Images
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    Why construction stocks are like honey for the bear market

    Construction companies could become Wall Street’s darlings, armed with strong backlogs and robust infrastructure funding.

    By • June 15, 2022
  • A render of the finished product in Sherman, a new semiconductor fabricator plant that Texas Instruments plans to open.
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    Courtesy of Texas Instruments
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    Amid domestic semiconductor wave, Texas Instruments begins $30B build

    The manufacturing facility, which broke ground in Sherman, Texas, follows a trend of similar investments in the U.S.

    By • June 14, 2022
  • An aerial view on a sunny morning of several of San Francisco's most well known architectural landmarks. A backdrop of the skyscrapers and Bay Bridge behind them.
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    DianeBentleyRaymond via Getty Images
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    How construction starts fare by US region

    Analysts forecast how activity in the West, Midwest, Northeast and South will rebound from the pandemic.

    June 14, 2022
  • People congregate outside of the LDJ5 Amazon Sort Center on April 25, 2022 in New York City.
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    Michael M. Santiago/Staff via Getty Images
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    Why Amazon's warehouse pullback is good news for contractors

    The e-commerce giant has slowed its building spree, freeing up hard-to-find materials and land for other projects in the booming sector.

    By • June 13, 2022
  • Two construction people look ahead
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    kali9 via Getty Images
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    High pay attracts workers, but construction's employment gap widens

    To entice more workers into the industry, contractors will likely have to further elevate wages, AGC Chief Economist Ken Simonson said.

    By • June 9, 2022
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    Miami skyline/Joe Raedle via Getty Images
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    Texas, Florida boost construction starts in the South

    Warehouse activity continues to grow, but Dodge expects deceleration in the sector.

    By • June 9, 2022
  • Chicago river with boats and traffic from above in the morning
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    Melpomenem via Getty Images
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    Midwest starts lag national average

    The power and gas plant sector in the region, particularly its solar energy and wind farms, shows robust activity.

    By • June 7, 2022
  • Bechtel LNG plant
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    Permission granted by Bechtel
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    Despite flat revenue, Bechtel's 2021 performance better than expected: CFO

    The country's second-largest contractor saw year-over-year backlog revenue decrease but the amount of new work on its books rose.

    By • June 6, 2022
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    Sean Gallup via Getty Images
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    Recession 'not inevitable,' Moody's says

    Contractors considering changes to wages, prices and other critical business strategies must filter an unusual range of conflicting economic forecasts.

    By Jim Tyson • June 6, 2022
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    OlegAlbinsky via Getty Images
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    Northeast construction starts slow following rebound last year

    The headwinds of inflation, supply chain issues, COVID-19 and a potential recession mute activity in the region, according to Dodge Data & Analytics.

    By • June 3, 2022
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    Ethan Miller/Staff via Getty Images
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    Manufacturing projects boost starts in Western states

    Clients looking to build a more reliable supply chain, via projects like chip plants, will drive growth in the sector, said a senior economist at Dodge.

    By • May 31, 2022
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    Courtesy of Caesars Entertainment
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    Dodge: Construction starts jump, pipeline strong

    Commercial building grows despite supply chain issues, the war in Ukraine and rising inflation, but a recession would slow that growth, an economist said.

    By • May 25, 2022
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    Viorika via Getty Images
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    The IIJA sets aside $100M for contech. When will it arrive?

    Agencies have not yet hammered out the details, but the funding could follow a predictable path set by the federal government.

    By • May 18, 2022