Economy: Page 8

  • Aerial view of the new computer chip factory that's being built by The Taiwan Semiconductor Manufacturing Company in Arizona on the North side of Phoenix.
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    Deep Dive

    Manufacturing megaprojects gobble up workers

    From Taylor, Texas, to Licking County, Ohio, multibillion-dollar factory projects are magnifying labor woes and driving up costs.

    By • Aug. 14, 2023
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    Courtesy of Associated General Contractors of America
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    Economic Reports

    Construction materials prices unchanged, signaling ‘stable’ costs ahead

    Relatively flat materials figures in recent months indicate contractors are finally experiencing relief from supply chain woes and price volatility, according to a new report.

    By • Aug. 11, 2023
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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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    JaysonPhotography via Getty Images
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    WSP profit, revenue, backlog jump

    CEO and President Alexandre L’Heureux said the company’s second quarter performance surpassed expectations, despite inflation and labor challenges.

    By • Aug. 10, 2023
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    Courtesy of Port of Seattle
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    AECOM reports Q3 loss despite higher revenue

    The CEO of the Dallas-based firm said inflation has increased costs for delivering infrastructure projects, but prices are beginning to stabilize.

    By • Aug. 9, 2023
  • Rendering of the $400 million Kraft Heinz distribution center in DeKalb, Illinois.
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    Courtesy of Kraft Heinz
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    Economic Reports

    Construction planning drops for fifth month on interest rates, lending issues

    Weaker commercial activity will counter more robust institutional ambitions for the rest of 2023, said Sarah Martin, associate director of forecasting for Dodge Construction Network.

    By • Aug. 8, 2023
  • A rendering shows the redesigned Brent Spence Bridge and companion crossing in Cincinnati.
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    Courtesy of Walsh Construction
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    Project Wins

    Ohio, Kentucky tap Walsh Kokosing JV for $3.6B Brent Spence Bridge project

    Jacobs and AECOM will pitch in with design and engineering on the endeavor, which has become a symbol of the country’s infrastructure push.

    By • Aug. 7, 2023
  • Construction of Vogtle Nuclear Plant Unit 4
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    Courtesy of Bechtel
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    Project Milestones

    $30B Bechtel-built nuclear plant starts operation in Georgia

    The contractor took over work in 2017 to complete the first new atomic power unit built in the U.S. in more than 30 years.

    By • Aug. 3, 2023
  • A man works in the sun at a construction site during a heat wave on July 27, 2023 in the Brooklyn borough of New York City.
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    Spencer Platt/Getty Images via Getty Images
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    Economic Reports

    Private projects stall even as public construction spending jumps

    Although infrastructure dollars are flowing, “private developer-driven activity appears to be drying up,” said ABC’s chief economist.

    By • Aug. 2, 2023
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    johny007pan/iStock/Getty Images Plus via Getty Images
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    Economic Reports

    Turner’s cost index continues to rise

    Though improving supply chains have helped ease the pace of increases, labor rates pressure contractors.

    By • July 31, 2023
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    goncharovaia via Getty Images
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    Economic Reports

    Recessionary conditions likely in next year

    Weakening global and national economies, mixed with high borrowing costs and excess inflation, are poking holes in construction’s outlook, said Associated Builders and Contractors’ chief economist.

    By • July 27, 2023
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    photosvit via Getty Images
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    Q&A

    Spending likely to slump in rest of year

    AIA Chief Economist Kermit Baker talked about private construction activity, nonresidential spending and financial headwinds.

    By • July 25, 2023
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    Retrieved from Buffalo Bills on January 25, 2023
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    Economic Reports

    Construction starts continue volatile ride, ‘up one month and down the next’

    Choppy conditions will persist due to high interest rates and tightening lending standards, said Richard Branch, chief economist for Dodge Construction Network.

    By • July 24, 2023
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    Permission granted by Skanska
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    Skanska reports record backlog, Q2 profit drop

    On the back of infrastructure jobs, Skanska has added to its contracted work even as it weathers a weaker leasing market.

    By • July 21, 2023
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    ewg3D via Getty Images
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    Rent growth drops to lowest non-pandemic rate since 2011

    Asking rents are still on the rise, both for conventional multifamily and for single-family build-to-rent properties, according to a new report.

    By Mary Salmonsen • July 21, 2023
  • A helicopter carrying a water basket flies past a smoke plume near Lebel-sur-Quevillon, Quebec.
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    Adrian Wyld/The Canadian Press/AP

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    Canadian wildfires raised air pollution. Lumber prices could be next.

    Historic fires are blazing through the provinces of Alberta and Quebec, dealing a blow to the country’s softwood lumber production.

    By • July 17, 2023
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    mihailomilovanovic via Getty Images
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    ABC members pour $1.5B into upskilling

    2022 continued an investment trend in training and education, but the employer group said there’s more work to be done.

    By • July 14, 2023
  • A construction worker ushers traffic on July 11, 2023 in Austin, Texas.
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    Brandon Bell/Getty Images via Getty Images
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    Economic Reports

    Inflation cools, but material prices remain high

    Despite easing conditions, headwinds still hamper construction activity, according to a new report.

    By • July 14, 2023
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    Kwanchai_Khammuean via Getty Images
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    Readers Respond: How contractors deal with sticker shock

    Respondents to a recent Construction Dive survey said they are combating the high price of building materials with a variety of tactics.

    By • July 14, 2023
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    Martin Barraud via Getty Images
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    Economic Reports

    Construction planning falls for fourth straight month

    While commercial activity saw an uptick due to data center and hotel projects, a decline in education and healthcare proposals dragged a key index down.

    By • July 12, 2023
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    Zocha_K/iStock/Getty Images Plus via Getty Images
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    Economic Reports

    Construction backlog holds steady on infrastructure tailwinds

    While pending projects in the commercial and industrial sectors dropped, upcoming civil works jobs hit their highest level in two years. 

    By • July 12, 2023
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    Drazen_ via Getty Images
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    Opinion

    5 factors that can make your construction risk register obsolete

    Contractors should recalibrate risk to account for today’s challenges in order to mitigate disputes and potential litigation.

    By James Gallagher • July 11, 2023
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    Courtesy of Associated Builders and Contractors
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    Economic Reports

    Nonresidential construction spending shrinks for first time in 11 months

    While year-over-year spending remains positive, segments such as commercial construction and infrastructure posted declines in May.

    By • July 5, 2023
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    goncharovaia via Getty Images
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    Q&A

    Construction expert predicts flat material prices for second half of year

    Labor shortages, a manufacturing boom and infrastructure work are keeping the industry from returning to pre-pandemic price levels.

    By • June 29, 2023
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    Opinion

    Midyear check-in: How’s your construction firm doing?

    At the halfway point of 2023, UBS financial advisor Jason Lowy says that construction leaders should assess their year-end goals.

    By Jason Lowy • June 29, 2023
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    zhengzaishuru via Getty Images
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    Q&A

    Industrial construction is ‘cooling in some markets’

    Kyle Roberts, executive managing director at Newmark, talks with Construction Dive about an industrial construction slowdown.

    By • June 21, 2023