Economy: Page 7

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    Spencer Platt/Getty Images via Getty Images
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    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.
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    Rebecca Noble via Getty Images
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    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.
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    Courtesy of CRG
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    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
  • An overhead view of two people in construction gear looking over plans on a table.
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    AzmanJaka via Getty Images
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    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
  • Rendering of CityView Plaza in San Jose, California.
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    Courtesy of Jay Paul Co.
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    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
  • In an aerial view, the groundwork for apartments is seen undergoing construction on March 19, 2024 in Austin, Texas
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    Brandon Bell/Getty Images via Getty Images
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    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
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    franckreporter via Getty Images
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    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
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    Panupong Piewkleng via Getty Images
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    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.
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    Mario Tama/Getty Images via Getty Images
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    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
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    Tom Shaw via Getty Images
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    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
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    Mario Tama/Getty Images via Getty Images
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    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
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    Mario Tama/Getty Images via Getty Images
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    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.
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    Joe Raedle via Getty Images
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    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.
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    Sayed Hassan via Getty Images
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    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.
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    Justin Sullivan via Getty Images
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    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
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    Sean Pavone via Getty Images
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    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.
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    Mario Tama/Getty Images via Getty Images
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    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.
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    Drazen_ via Getty Images
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    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
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    Mario Tama/Getty Images via Getty Images
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    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.
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    Permission granted by Samet Corp.
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    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
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    Getty Images via Getty Images
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    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
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    kali9 via Getty Images
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    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
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    Permission granted by Goldman Sachs
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    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,
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    Permission granted by National Renewable Energy Laboratory
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    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.
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    Mario Tama/Getty Images via Getty Images
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    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