Economy: Page 3

  • An increase in empty office spaces around the country threatens to diminish U.S. business districts.
    Image attribution tooltip
    Brandon Bell/Getty Images via Getty Images
    Image attribution tooltip
    Economic Reports

    Easing inflation, potential rate cuts boost backlog

    Builders have fared well so far this year despite high interest rates, rising prices and emerging weakness in the broader economy, according to ABC Chief Economist Anirban Basu.

    By • July 10, 2024
  • Construction crews work on Interstate 95 in Connecticut at night.
    Image attribution tooltip
    John Moore via Getty Images
    Image attribution tooltip
    Economic Reports

    Public construction spending roars, private markets whimper

    Outlays for commercial builds faltered in May as those for civil projects rose again, propelling the overall nonresidential sector to a 6.2% gain for the year. 

    By • July 2, 2024
  • Construction site Explore the Trendlineâž”
    Image attribution tooltip
    sandsun via Getty Images
    Image attribution tooltip
    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
  • entegris-colorado-springs-facility
    Image attribution tooltip
    Courtesy of Entegris
    Image attribution tooltip

    Entegris to get $75M in CHIPS funding for Colorado plant

    The funds will support the semiconductor supplier's construction of a $600 million, 100,000-square-foot manufacturing center in Colorado Springs.

    By Joelle Anselmo • June 28, 2024
  • A worker assembles Volkswagen's ID.3 electric car at a factory in Germany.
    Image attribution tooltip
    Jens Schlueter via Getty Images
    Image attribution tooltip

    Trump could roll back Inflation Reduction Act tax credits if reelected

    Volkswagen and Samsung SDI leaders expressed concerns at a conference last week about the stability of the IRA should the administration change.

    By Kate Magill • June 18, 2024
  • An aerial view shows a project site undergoing construction in Austin, Texas,
    Image attribution tooltip
    Brandon Bell/Getty Images via Getty Images
    Image attribution tooltip
    Economic Reports

    Construction input prices drop for first time in 2024

    Lower material costs also signal the potential for reduced interest rates due to slowing inflation, said Associated Builders and Contractors’ chief economist.

    By • June 13, 2024
  • The 165-foot wide crossing, scheduled to be completed in 2026, will blend into the surroundings and allow wildlife to roam above the busy freeway where up to 300,000 vehicles pass daily.
    Image attribution tooltip
    Mario Tama/Getty Images via Getty Images
    Image attribution tooltip
    Economic Reports

    Backlog shrinks after 2 months of gains

    While manufacturing and infrastructure spending keeps contractors busy, material price escalation has reemerged in recent months, said ABC’s chief economist.

    By • June 12, 2024
  • A guitar-shaped building is lit up in purple on the Strip.
    Image attribution tooltip
    Courtesy of Hard Rock International
    Image attribution tooltip
    Economic Reports

    Data centers, retail lead construction planning

    While certain construction sectors saw growth, the value of newly signed design contracts dipped slightly as owners remain hesitant to commit to new work, the American Institute of Architects said. 

    By • June 10, 2024
  • Biden announced $8.5 billion in federal funding from the CHIPS Act for Intel Corp. to manufacture semiconductors in Arizona.
    Image attribution tooltip
    Rebecca Noble/Getty Images via Getty Images
    Image attribution tooltip
    Economic Reports

    Construction spending slips but 1 sector shines

    The largest private segment — manufacturing construction — has jumped more than 17% over the past 12 months, according to new federal data.

    By • June 4, 2024
  • The UC Davis Health tower ranked the biggest project to break ground in April, according to Dodge Construction Network.
    Image attribution tooltip
    Courtesy of UC Davis Health
    Image attribution tooltip

    The largest commercial construction starts of April 2024

    The $3.7 billion UC Davis Medical Center in Sacramento, California, and the $1.8 billion Linde Blue Hydrogen plant in Beaumont, Texas, ranked as the top two projects to get underway last month.

    By • May 28, 2024
  • Header image for "Fed Minutes Show Heightened Inflation Concerns"
    Image attribution tooltip
    Getty Images via Getty Images
    Image attribution tooltip

    Inflation cools, reassuring Fed after unexpectedly hot gains

    The yield on the benchmark 10-year Treasury note fell on investor speculation that slower inflation will prompt the Fed to sooner cut borrowing costs.

    By Jim Tyson • May 16, 2024
  • A person wearing white gloves rubs a white compound in their hands. beneath them is a box of the stuff.
    Image attribution tooltip
    Courtesy of Meta
    Image attribution tooltip

    5 contech firms announce funding in 2024’s first half

    Drone-powered roof inspections, cloud-based estimating solutions and fungi-fueled recycling tech earned venture capital in recent months.

    By • May 15, 2024
  • The 165-foot wide crossing, scheduled to be completed in 2026, will blend into the surroundings and allow wildlife to roam above the busy freeway where up to 300,000 vehicles pass daily.
    Image attribution tooltip
    Mario Tama/Getty Images via Getty Images
    Image attribution tooltip
    Economic Reports

    As backlog rises, so does contractors’ confidence

    New work increased 2.4% last month, but only time will tell if construction optimism is justified in the face of fresh headwinds, said ABC’s chief economist.

    By • May 15, 2024
  • Kicking off the company's construction of a planned 218-mile high-speed rail line connecting Las Vegas and Southern California, Brightline's all-electric, zero-emission trains will travel at a top speed of 200 mph.
    Image attribution tooltip
    Ethan Miller/Getty Images via Getty Images
    Image attribution tooltip
    Economic Reports

    Construction input prices jump again, continue 2024’s upward climb

    A new ABC report points to yet another sign that inflation is accelerating and that interest rates are set to stay higher for longer.

    By • May 15, 2024
  • Detroit, Michigan, USA downtown skyline from above at dusk.
    Image attribution tooltip
    Sean Pavone via Getty Images
    Image attribution tooltip
    Deep Dive

    Contractors, owners wait out high interest rates

    As long as the Fed doesn't raise already elevated rates, a steady environment could jump-start stalled projects.

    By • May 14, 2024
  • rendering of the District Detroit project
    Image attribution tooltip
    Courtesy of City of Detroit
    Image attribution tooltip

    Abandonments tick down, but more builds are being mothballed

    For public projects specifically, the abandonment reading is now lower than at any time since late January, according to ConstructConnect data.

    By • May 10, 2024
  • aerial shot of Meta's new data center in Rosemount, Minnesota.
    Image attribution tooltip
    Courtesy of Meta
    Image attribution tooltip
    Economic Reports

    Data centers boom again, boost construction planning

    A flood of these megprojects entered the planning queue, reversing a two-month streak of contraction, according to the Dodge Construction Network.

    By • May 8, 2024
  • A statue of a bull stands in New York's financial district.
    Image attribution tooltip
    Chris Hondros via Getty Images
    Image attribution tooltip

    Data centers are next target for MasTec, CEO says

    While the specialty energy contractor reported a loss for its latest quarter, CEO José Mas said it will bid on $1 billion worth of work for the computing facilities going forward.

    By • May 8, 2024
  • Construction workers talking
    Image attribution tooltip
    kali9 via Getty Images
    Image attribution tooltip
    Economic Reports

    Open construction jobs plunge 40%, but economists question data

    The massive drop may be a statistical anomaly due to construction's scheduling and hiring patterns.

    By • May 2, 2024
  • Las Vegas Breaks Ground On New Brightline West High-Speed Rail Project
    Image attribution tooltip
    Ethan Miller/Getty Images via Getty Images
    Image attribution tooltip
    Economic Reports

    Public sector lifts nonresidential construction spending as private projects lag

    While the two sides of the industry are going in opposite directions, overall nonresidential outlays have outpaced inflation since the start of the pandemic, an economist said.

    By • May 1, 2024
  • The $1.3 billion Rady Children’s Hospital Intensive Care Unit in San Diego, California.
    Image attribution tooltip
    Courtesy of Rady Children’s Hospital-San Diego
    Image attribution tooltip

    Construction starts dip for second straight month

    High rates, inflation and restrictive credit suppressed building activity in March, according to Dodge Construction Network.

    By • April 29, 2024
  • Wood-framed apartment complex under construction
    Image attribution tooltip
    Maudib via Getty Images
    Image attribution tooltip

    Apartment starts fall more than 43%

    Completions rose 4.6% as developers added more than 500,000 units in March.

    By Leslie Shaver • April 25, 2024
  • Cemex concrete plant in Rudersdorf, Germany
    Image attribution tooltip
    Sean Gallup via Getty Images
    Image attribution tooltip

    Contech investment up 20% in Q1

    Investors pumped $672 million into the space through March, a significant jump from the same period in 2023, according to Cemex Ventures.

    By • April 17, 2024
  • A worker peers out from a worksite in lower Manhattan
    Image attribution tooltip
    Spencer Platt/Getty Images via Getty Images
    Image attribution tooltip
    Economic Reports

    Construction backlog posts first gain of 2024

    Given industry headwinds, the “optimism among nonresidential construction contractors is astonishing,” said Anirban Basu, Associated Builders and Contractors chief economist.

    By • April 16, 2024
  • Construction workers listen to a speech from US President Joe Biden at Intel Ocotillo Campus on March 20, 2024 in Chandler, Arizona.
    Image attribution tooltip
    Rebecca Noble via Getty Images
    Image attribution tooltip
    Economic Reports

    Construction planning posts largest decline of 2024

    Institutional developments, which include life sciences and lab projects that surged during the pandemic, have now slowed down, according to Dodge Construction Network.

    By • April 10, 2024
  • CRG Completes 77-Acre Industrial Land Sale at The Cubes at West Port Near Savannah, Ga.
    Image attribution tooltip
    Courtesy of CRG
    Image attribution tooltip

    After pandemic boom, industrial construction starts fade

    Project kickoffs fell 40% last year, as a slew of COVID-era warehouse and distribution projects have outpaced demand.

    By • April 9, 2024