New proposed infrastructure and public building investments will create or support nearly 2 million jobs throughout the entire economy in part because of the economic slowdown and massive construction layoffs that have occurred, George Mason University economist Stephen Fuller argued during Congressional testimony on behalf of the Associated General Contractors of America. Professor Fuller noted [...]
Construction + Economy
11% Reduction in Nonresidential Construction Predicted in 2009
As the overall economy continues to struggle, nonresidential construction spending is expected to decrease by 11% in 2009 in inflation-adjusted terms, according to the AIA Consensus Construction Forecast. This semi-annual forecast is based on a survey of the nation’s top construction forecasters, including McGraw Hill Construction, Global Insight, Moody’s Economy.com, Reed Business Information and FMI. [...]
Builder Confidence Remains at Record Low in December
Builder confidence in the market for newly built single-family homes held at a record low in December as deepening economic turmoil, a deteriorating job market, and an ongoing flow of foreclosed homes onto the market continued to negatively impact sales conditions. The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) did not budge [...]
Construction + Economy, Lighting Industry
Annual Rate of Construction Valued at $1.08 Trillion in November
The U.S. Census Bureau of the Department of Commerce recently announced that construction spending during November 2008 was estimated at a seasonally adjusted annual rate of $1,078.4 billion, 0.6% (±1.6%) below the revised October estimate of $1,085.3 billion. The November figure is 3.3% (±2.2%) below the November 2007 estimate of $1,115.3 billion. During the first [...]
Lighting Solution Development
7889 River Hill Lane, Alexandria, PA 16611-2604