Construction + Economy

Work is proceeding briskly to complete the reflecting pools at the site of the World Trade Center attacks in time for September 11, 2011, the tenth anniversary of the attacks. But planners still have to figure out how to provide access to the memorial while construction continues on the larger site… The Wall Street Journal [...]

In FMI’s Construction Outlook: First Quarter 2010 Report, the outlook for put-in-place construction for 2010 remains bleak. Total construction in 2010 will be down after declining in 2009, according to FMI construction economist Heather Jones. Residential construction is expected to begin recovering in 2010, while nonresidential construction will continue to decline in 2010. Nonbuilding construction [...]

The business environment has improved markedly since December 2009, according to electrical equipment manufacturers polled in NEMA’s most recent business confidence survey. The Electroindustry Business Confidence Index (EBCI) for current North American conditions rose sharply in March 2010 for a third straight month, increasing 7.2 points to 71.7–its highest level since May 2004. Nonetheless, though [...]

Construction spending during February 2010 was estimated at a seasonally adjusted annual rate of $846.2 billion, 1.3% lower than the revised January 2010 estimate of $857.8 billion and 12.8% below the February 2009 estimate of $970.4 billion, according to new Commerce Department figures. (Note these are estimates and subject to change over the next several [...]

A new program to inform building owners and operators, tenants and prospective buyers on the energy use of buildings, similar to a nutrition label on food or miles per gallon ratings on cars, has recently been launched to encourage the building industry to find ways to cut energy use and costs. The Building Energy Quotient [...]

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Following a drop of nearly three points, the Architecture Billings Index (ABI) nudged up almost two points in February. As a leading economic indicator of construction activity, the ABI reflects the approximate 9- to 12-month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the February ABI rating was [...]

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Construction spending during January 2010 was estimated at a seasonally adjusted annual rate of $884.1 billion, 0.6% lower than the revised December 2009 estimate of $889.6 billion and 9.3% below the January 2009 estimate of $974.3 billion, according to new Commerce Department figures. (Note these are estimates and subject to change over the next several [...]