Economy: Page 4

  • 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
  • Rendering of CityView Plaza in San Jose, California.
    Image attribution tooltip
    Courtesy of Jay Paul Co.
    Image attribution tooltip
    Economic Reports

    Project abandonments spike

    Outright cancellations increased 7% over the past month, fueled by publicly funded projects, according to ConstructConnect.

    By • April 3, 2024
  • Construction site Explore the Trendline➔
    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
  • An overhead view of two people in construction gear looking over plans on a table.
    Image attribution tooltip
    AzmanJaka via Getty Images
    Image attribution tooltip
    Economic Reports

    Job openings inch up as layoffs, hirings soar

    Construction sectors powered by federal funds have high demands for labor, but private segments face slower growth, according to an Associated Builders and Contractors economist.

    By • April 3, 2024
  • In an aerial view, the groundwork for apartments is seen undergoing construction on March 19, 2024 in Austin, Texas
    Image attribution tooltip
    Brandon Bell/Getty Images via Getty Images
    Image attribution tooltip
    Economic Reports

    Construction spending slips due to weather, interest rates

    Monthly spending was down in 15 of 16 nonresidential categories, but on an annual basis, all sectors are still positive.

    By • April 2, 2024
  • A series of tall office buildings.
    Image attribution tooltip
    franckreporter via Getty Images
    Image attribution tooltip

    Office real estate value likely to plunge 26% through 2025: Moody’s

    An above-average amount of commercial real estate debt will soon mature and property owners will need to refinance at the highest rates in years, Moody’s said.

    By Jim Tyson • March 25, 2024
  • A construction worker welds rebar
    Image attribution tooltip
    Panupong Piewkleng via Getty Images
    Image attribution tooltip
    Economic Reports

    Construction starts plunge 8% as Fed toes line on rates

    January’s manufacturing gains were wiped away as the prolonged impact of higher interest rates and labor issues caught up with the sector.

    By • March 21, 2024
  • In an aerial view, construction continues around the retired NASA Space Shuttle Endeavour at the California Science Center on February 14, 2024 in Los Angeles.
    Image attribution tooltip
    Mario Tama/Getty Images via Getty Images
    Image attribution tooltip
    Economic Reports

    Input price surge signals bumpy road ahead

    “There is reason to believe that inflation will remain stubbornly high for months to come,” said ABC’s chief economist.

    By • March 15, 2024
  • Aerial view of London
    Image attribution tooltip
    Tom Shaw via Getty Images
    Image attribution tooltip

    Balfour Beatty’s 2023 profits dip on investments

    CEO Leo Quinn nonetheless predicted growth in coming years as the London-based contractor capitalizes on shifts in the U.S. market.

    By • March 14, 2024
  • Construction workers help build a mixed-use apartment complex which will hold over 700 units of apartment housing and 95,000 square feet of commercial space on January 25, 2024 in Los Angeles
    Image attribution tooltip
    Mario Tama/Getty Images via Getty Images
    Image attribution tooltip
    Economic Reports

    Inflation, interest rates contribute to backlog dip

    Higher borrowing costs may stick around for longer than anticipated, which could upset economic momentum, said Anirban Basu, ABC chief economist.

    By • March 12, 2024
  • Construction workers help build a mixed-use apartment complex which will hold over 700 units of apartment housing and 95,000 square feet of commercial space on January 25, 2024 in Los Angeles, Califor
    Image attribution tooltip
    Mario Tama/Getty Images via Getty Images
    Image attribution tooltip
    Economic Reports

    Office sector drags down construction planning

    Nonresidential planning slowed as workers continue to log in from home, but most other categories showed growth, according to Dodge Construction Network.

    By • March 8, 2024
  • Two construction workers ride a lift underneath a rusty bridge.
    Image attribution tooltip
    Joe Raedle via Getty Images
    Image attribution tooltip
    Economic Reports

    Weather, financing woes end 19-month construction spending streak

    Despite the drop, contractor confidence remains high for the near term, according to Associated Builders and Contractors.

    By • March 4, 2024
  • A ship transits the Suez Canal towards the Red Sea on January 10, 2024 in Ismailia, Egypt.
    Image attribution tooltip
    Sayed Hassan via Getty Images
    Image attribution tooltip

    Supply chain headaches persist 4 years into pandemic

    As the fourth anniversary of COVID-19’s arrival in the U.S. nears, contractors are still dealing with challenges around materials pricing and availability.

    By Shefali Kapadia • Feb. 29, 2024
  • A Wells Fargo flag flies in front of a Wells Fargo bank branch.
    Image attribution tooltip
    Justin Sullivan via Getty Images
    Image attribution tooltip

    Wells Fargo CFO calls commercial real estate a ‘long movie’

    The office market is under the most pressure, the bank’s finance chief Michael Santomassimo said on Monday.

    By Maura Webber Sadovi • Feb. 28, 2024
  • Tampa, Florida, skyline is pictured at dusk
    Image attribution tooltip
    Sean Pavone via Getty Images
    Image attribution tooltip
    Regional Report

    Tampa’s sunny construction market has builders feeling good

    Contractors in Tampa — a big city with a small town feel — reap the benefits of one of the fastest-growing metros in the U.S.

    By • Feb. 27, 2024
  • A construction worker helps build a mixed-use apartment complex which will hold over 700 units of apartment housing and 95,000 square feet of commercial space on January 25, 2024 in Los Angeles.
    Image attribution tooltip
    Mario Tama/Getty Images via Getty Images
    Image attribution tooltip
    Economic Reports

    Construction starts flatline even as manufacturing accelerates

    Expected interest rate cuts in the second half of 2024 should spur more groundbreakings as the year progresses, according to Dodge.

    By • Feb. 23, 2024
  • Three construction workers are in the middle background, surrounded by work on a large construction site.
    Image attribution tooltip
    Drazen_ via Getty Images
    Image attribution tooltip

    9 of the top contech deals of 2023

    Autonomous drone technology, metal reclamation and modular construction topped the list of the biggest contech funding rounds last year.

    By • Feb. 21, 2024
  • Construction workers help build a mixed-use apartment complex which will hold over 700 units of apartment housing and 95,000 square feet of commercial space on January 25, 2024 in Los Angeles
    Image attribution tooltip
    Mario Tama/Getty Images via Getty Images
    Image attribution tooltip
    Economic Reports

    Input prices rise after 3 months of decline

    The first increase since September highlights the ongoing presence of material price volatility, said Anirban Basu, Associated Builders and Contractors’ chief economist.

    By • Feb. 20, 2024
  • An elevated view of a crane over a tower under construction.
    Image attribution tooltip
    Permission granted by Samet Corp.
    Image attribution tooltip
    Q&A

    Slowdown ahead due to interest rates, GC exec says

    As people move to the Southeast, Samet Corp. has seen an increase in demand for multifamily and public projects, according to CFO Doug Beane.

    By • Feb. 14, 2024
  • Header image for "Whipping Inflation May Require Chancing a Recession"
    Image attribution tooltip
    Getty Images via Getty Images
    Image attribution tooltip

    Inflation edges up, pushing back forecast of first Fed rate cut

    Futures traders now see a 52% probability that policymakers in June will cut the federal funds rate from its current peak level between 5.25% and 5.5%.

    By Jim Tyson • Feb. 14, 2024
  • Construction workers talking
    Image attribution tooltip
    kali9 via Getty Images
    Image attribution tooltip
    Economic Reports

    Backlog dips again amid tight lending conditions

    The heavy industrial sector saw large gains, while institutional and infrastructure segments dropped.

    By • Feb. 14, 2024
  • A rendering of an office building in Dallas
    Image attribution tooltip
    Permission granted by Goldman Sachs
    Image attribution tooltip
    Regional Report

    Dallas bucks national office construction slump

    The city leads the U.S. in office space under construction, according to commercial real estate services firms Cushman & Wakfield and CBRE.

    By • Feb. 9, 2024
  • Rendering of the $224 million DOE research facility on the east side of its South Table Mountain Campus in Golden, Colorado,
    Image attribution tooltip
    Permission granted by National Renewable Energy Laboratory
    Image attribution tooltip

    Construction planning inches higher despite commercial weakness

    Though Dodge Construction Network expects momentum to pick back up in the second half, private project planning remains challenged by a difficult financing environment.

    By • Feb. 9, 2024
  • An American flag flies from a crane as construction worker helps build a mixed-use apartment complex in Los Angeles.
    Image attribution tooltip
    Mario Tama/Getty Images via Getty Images
    Image attribution tooltip
    Economic Reports

    Public construction spending soars, but private projects still face hurdles

    Highway and street projects are flush with cash, but high interest rates, labor shortages and regulatory delays are weighing on commercial projects.

    By • Feb. 2, 2024
  • dotted line
    Image attribution tooltip
    Danielle Ternes/Construction Dive
    Image attribution tooltip

    The Dotted Line: Legal trends to watch in 2024

    Contracts are evolving in an era of persisting supply chain problems, inflation and cyber risks, construction attorneys say.

    By • Jan. 30, 2024
  • Aerial view of Georgia-Pacific's manufacturing plant in Jackson, Tennessee
    Image attribution tooltip
    Permission granted by JE Dunn
    Image attribution tooltip
    Deep Dive

    Why contractors are still all in on manufacturing projects

    Despite the sector’s recent deceleration in starts, firms with factory construction specialization are scaling up for more demand.

    By • Jan. 29, 2024