Construction + Economy

In the wake of an extended global economic slump, local communities are pushing ahead and expanding their green building programs. More than one in five U.S. cities with populations greater than 50,000 surveyed by the American Institute of Architects (AIA) report having a policy to promote green buildings, accounting for more than 53 million people. [...]

Amidst a continued high level of inquiries for possible new projects, the American Institute of Architects’ (AIA) Architecture Billings Index (ABI) reached its highest mark since August 2008, just before the serious credit problems emerged in the economy. As a leading economic indicator of construction activity, the ABI reflects the approximate 9- to 12-month lag [...]

Despite a challenging economic outlook, green construction will support 7.9 million U.S. jobs and pump $554 billion into the American economy–including $396 billion in wages–over the next four years (2009-2013), according to a new study from the U.S. Green Building Council and Booz Allen Hamilton. The study also determined that green construction spending currently supports [...]

Construction spending during September 2009 was estimated at a seasonally adjusted annual rate of $940.3 billion, 0.8% above the revised August estimate of $933 billion and 13% below the September 2008 estimate of $1,081.2 billion. During the first nine months of 2009, construction spending reached $715.2 billion, 12.1% below the $813.3 billion for the same [...]

In his October editorial, Building Design & Construction Robert Cassidy asked whether commercial real estate is the next bubble, quoting Dan Tishman, CEO of Tishman Construction, who said $3.4 trillion in commercial real estate loans generated in 2007 will be rolling over in the next 5-7 years, and the capacity to refinance these loans is [...]

The outlook for the general economy is improving, but that doesn’t mean good news for construction yet. Total construction in 2009 and 2010 will be down 14% and 5% respectively, according to FMI economist Heather Jones. Click here to download FMI’s Q309 report free. (post updated on December 2)

In the three-year period leading up to the current recession, gross billings at U.S. architecture firms increased nearly $16 billion from 2005 and totaled $44.3 billion in 2008. This equates to 54% growth over the three-year period with annual growth of about 16%. These findings are from the American Institute of Architects (AIA) Business of [...]

Construction spending during August 2009 was estimated at a seasonally adjusted annual rate of $941.9 billion, 0.8% above the revised July estimate of $934.6 billion and 11.6%, or $124.2 billion, below the August 2008 estimate of $1,066.1 billion. During the first eight months of 2009, construction spending reached $629.5 billion, 11.9% below the $714.3 billion [...]

As the nonresidential construction industry continues to struggle, the American Institute of Architects’ (AIA) Architecture Billings Index (ABI) showed a nominal improvement in September. 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. It is derived from a monthly “Work-on-the-Boards” [...]