Economy: Page 2

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    Opinion

    How to tell if a project owner is in financial trouble

    In today’s volatile lending environment, it's important to know the signs that could indicate a client is in distress, says a construction attorney.

    By Dan Rosenberg • Sept. 16, 2024
  • Border fence construction materials sit unused on the U.S.-Mexico border.
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    Rebecca Noble/Getty Images via Getty Images
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    Economic Reports

    Construction input costs stabilize as contractors eye relief

    Material prices sit almost a full percentage point lower than last year, a “welcome development” for builders, said Anirban Basu, ABC chief economist.

    By • Sept. 13, 2024
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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
  • Rendering of the $440 million Geisinger medical center tower in Danville, Pennsylvania.
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    Courtesy of Geisinger
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    Economic Reports

    Planning activity jumps ahead of Fed meeting

    Owners and developers added more projects to the queue in August, expecting stronger market conditions next year, per Dodge Construction Network.

    By • Sept. 12, 2024
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    Mario Tama/Getty Images via Getty Images
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    Economic Reports

    Construction backlog slips as contractors lose confidence

    Projects in the pipeline now trail last year’s pace by one month as a slowing economy begins to weigh on builders’ books.

    By • Sept. 11, 2024
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    interstid via Getty Images
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    Sponsored by Merchants Bonding Company

    The snowball effect

    Contractors' cash crunch problems are snowballing into other issues – what’s driving the trend?

    By Jay Farley, Vice President - Claims, Merchants Bonding Company • Sept. 9, 2024
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    Chip Somodevilla via Getty Images
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    Tax compliance costs surge 32% since 2017: Tax Foundation

    Efforts to simplify the federal tax code have failed to reverse decades of regulatory and legislative changes that have made it more complex.

    By Jim Tyson • Sept. 6, 2024
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    Sean Anthony Eddy via Getty Images
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    Job openings drop again, but commercial builders still seek workers

    Despite a 17% fall in unfilled positions in July, economists say nonresidential contractors are looking to hire craftworkers.

    By • Sept. 5, 2024
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    Leontura via Getty Images
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    Opinion // Business Matters

    How to maintain a steady backlog

    Measuring future work is one way to help it grow, according to consultant Matt Verderamo.

    By Matt Verderamo • Sept. 5, 2024
  • Construction continues on a mixed-use apartment complex that will hold more than 700 units of housing and 95,000 square feet of commercial space on August 20, 2024 in Los Angeles, California.
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    Mario Tama/Getty Images via Getty Images
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    Economic Reports

    Construction spending dips again as contractors await Fed relief

    Fluctuations in recent months stem from a worsening shortage of qualified workers, according to AGC’s chief economist.

    By • Sept. 3, 2024
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    unkas_photo via Getty Images
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    Apartment starts increase monthly, but fall YOY

    Meanwhile, multifamily completions jumped 50% from last July and the number of units under construction dropped.

    By Leslie Shaver • Aug. 27, 2024
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    Courtesy of Novo Nordisk
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    Economic Reports

    The 9 largest commercial construction starts of July 2024

    Total groundbreakings for the month jumped 10% ahead of the Fed’s likely rate cut, according to Dodge Construction Network.

    By • Aug. 26, 2024
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    Courtesy of Extell
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    Lendlease reports $1B loss as it sells off US work

    The Australian company is moving away from international projects with a plan to deploy funds from divesting into successful sectors at home.

    By • Aug. 20, 2024
  • A shot of the outside of a refurbished warehouse. The light-brown-colored bricks shine next to new windows under a blue sky.
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    Permission granted by Balfour Beatty
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    ‘Momentum’ the word of the day for Balfour Beatty

    The London-based builder reversed its decline in pre-tax profit and signaled that it is eyeing big opportunities in U.K. and U.S. markets.

    By • Aug. 16, 2024
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    Scott Olson/Getty Images via Getty Images
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    Economic Reports

    Rising energy costs drive up construction inputs

    Following two consecutive months of relief, price hikes in petroleum and natural gas pushed costs higher for the first time since April.

    By • Aug. 15, 2024
  • The replenishment project, which also includes Rehoboth Beach, Dewey Beach, South Bethany and Fenwick Island, costs in excess of $24 million
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    Kevin Dietsch/Getty Images via Getty Images
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    Economic Reports

    Construction backlog stagnates, squeezing smaller contractors

    Only the country’s largest contractors have a longer backlog than they did last year, according to Associated Builders and Contractors.

    By • Aug. 13, 2024
  • Rendering of the $325 million UCSF Children’s Hospital renovation in Oakland, California.
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    Courtesy of UCSF
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    Economic Reports

    Owners push more projects into planning

    Driven by expectations of an imminent interest rate cut, momentum is building across many major sectors, according to Dodge Construction Network.

    By • Aug. 9, 2024
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    Spencer Platt via Getty Images
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    Election uncertainty doesn’t faze AECOM

    Although new administrations can bring new priorities, long-term building trends around infrastructure and environmental work remain unchanged, said CEO Troy Rudd.

    By • Aug. 8, 2024
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    Bill Pugliano via Getty Images
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    Manufacturing enters ‘deeper slowdown period’ ahead of election: July PMI

    Companies are hesitant to invest in new orders amid high interest rates and political uncertainty, dragging down the industry. 

    By Kate Magill • Aug. 2, 2024
  • A construction crew works on a CloudHQ data center on July 17, 2024 in Ashburn, Virginia.
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    Nathan Howard/Getty Images via Getty Images
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    Economic Reports

    High interest rates, tight credit conditions stall projects

    Spending on nonresidential construction appears to have hit a period of stagnation, according to ABC’s chief economist.

    By • Aug. 1, 2024
  • Jerome Powell speaking at The Economic Club in DC on July 15, 2024
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    Nathan Howward via Getty Images
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    Fed holds rates steady; points to ‘totality’ of data needed for potential September cut

    The central bank continued to maintain rates at their 23-year high, but cracked open the door for a potential cut in September.

    By Grace Noto • Aug. 1, 2024
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    Permission granted by Alexandria Real Estate Equities, Inc.
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    Q&A

    DPR lead sees growing demand for US life sciences projects

    The firm is deploying tech earlier in the design process to influence sequencing and how the facilities are built, before extending it to the jobsite to track and manage progress.

    By • July 30, 2024
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    Courtesy of Equinor
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    Class A offices ‘the winner in this market’: Skanska CEO

    U.S. infrastructure work accounted for a large portion of the Swedish firm’s profits in Q2.

    By • Updated July 23, 2024
  • A rendering of a silver building with the Vinfast logo on a baby blue background, with a parking lot in front of it.
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    Courtesy of Vinfast.

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    VinFast pushes back North Carolina factory timeline

    The EV startup says production is now expected to begin in 2028.

    By Haley Cawthon • July 17, 2024
  • Lumber Prices Rise As Housing Start Tick Up In May
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    Scott Olson/Getty Images via Getty Images
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    Economic Reports

    Construction input prices dip for second straight month

    The cost of materials tumbled in June, likely due to lower project starts in a number of segments, according to Associated Builders and Contractors.

    By • July 15, 2024
  • aerial shot of Meta's new data center in Rosemount, Minnesota.
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    Courtesy of Meta
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    Economic Reports

    Top 2 largest projects to enter planning involve data center construction

    The Dodge Momentum Index, focused on nonresidential construction planning, is up 43% from June 2019 levels, signaling strong spending for next year.

    By • July 12, 2024