Tag: commercial construction

June 24, 2024

Project groundbreakings continued with strong momentum in the spring after a slow start to the year, according to Dodge Construction Network. Total construction starts jumped 10% to a seasonally adjusted annual rate of $1.24 trillion, according to Dodge Construction Network. […]

May 28, 2024

Project groundbreakings posted their largest increase of the year in April after a slow start, according to Dodge Construction Network. Total construction starts rebounded 6% to a seasonally adjusted annual rate of $1.06 trillion, according to Dodge Construction Network. The […]

January 22, 2024

Most commercial construction businesses think about financial technology only when it comes to paying their large and often fragmented supplier base. But the right payment solution can make the payment process more efficient while addressing other critical business challenges and […]

December 11, 2023

The Minneapolis branch reported the survey results ahead of the Federal Open Market Committee meeting on Tuesday and Wednesday, when policymakers are largely expected to leave interest rates alone. For months, contractors have observed a bifurcated construction market, one in […]

November 2, 2023

The largest nonresidential segments showed mixed results from August to September, according to the Associated General Contractors of America construction spending report. Commercial construction, which includes warehouse and retail projects, increased 0.7% in September, noted the AGC report. Meanwhile, investment […]

October 31, 2023

The total U.S. hotel construction pipeline jumped to 5,704 projects at the end of the 2023’s third quarter, a 7% increase year-over-year, according to the report. That’s largely because a recovery in the hospitality industry coupled with an increase in […]

May 23, 2023

In the world of commercial construction and especially working as a general contractor, networking and building relationships are vital and necessary skills that spur leads and drive revenue. Whether in person at a trade show, online on a project database, […]

April 21, 2023

Subcontractors in the US were hit with additional costs of US$97 billion in 2022 due to rising costs of materials and labour, according to a new study from Billd of nearly 900 commercial construction professionals across the US. Just over […]

February 17, 2023

After December’s numbers posted lower results, Ken Simonson, chief economist at the Associated General Contractors of America, warned that lower costs could be short-lived. “Some prices have already turned higher in January,” Simonson said last month. “Contractors are right to […]

February 9, 2023

The commercial component of the DMI fell 10% in January, while the institutional component dropped 4.7%. On a year-over-year basis, the commercial component remains up 40%, while the institutional component remains 16% higher. At the same time, activity in healthcare […]

February 2, 2023

The top 10 metropolitan areas accounted for 40% of all commercial and multifamily starts in the U.S., up from 37% in 2021, according to the report. Commercial and multifamily starts consist of office, stores, hotels, warehouses, commercial garages and multifamily […]

February 1, 2023

Touted as a faster, safer and cleaner way to build, 3D printing technology has yet to scale in a meaningful way for nonresidential construction. While the government has doled out grant money to research 3D printing capabilities in space, and […]

October 11, 2022

Backlog in heavy industrial increased sizably in September, spurred by a 21.5% year-over-year increase in manufacturing-related construction spending. The booking of new projects, plus an even more optimistic outlook on profits and hiring, defies predictions of a recession taking the […]

October 4, 2022

Nonresidential spending totaled $859.3 billion in August on a seasonally adjusted annualized basis, as private nonresidential spending ticked down 0.1%, while public nonresidential construction spending decreased 0.8%. Residential spending fell 1% over the last month, while total construction spending dipped […]

September 30, 2022

When it comes to acquiring construction equipment for your commercial construction company there are a number of factors to consider when it comes time to decide whether you rent, buy or lease. The first thing to consider is how often […]

March 25, 2022

Networking is all about making new connections and building longstanding relationships. In the commercial construction industry being able to effectively network is a vital skill that as an individual could land you your next job or put your company on […]

March 24, 2022

Visions were grand, forecasts ambitious: Permanent modular construction would change the industry, saving time, money and the environment. But years after its initial adoption in the U.S., it accounted for just 5.5% of new construction last year in North America, […]

November 4, 2021

The U.S. commercial construction outlook is looking up, with forecasted growth of 6% in 2021, followed by another 10% uptick in 2022. The $1.2 trillion Infrastructure Investment and Jobs Act also promises to revitalize America’s aging infrastructure and stimulate the […]

September 3, 2021

The latest (July 2021) U.S. put-in-place construction spending numbers from the Census Bureau are shown in Table 1 below. Year to date, the grand total is +6.2% (from the not seasonally adjusted/NSA column), but the decent-sized increase is only because […]

June 17, 2021

Contractors continue to face a shortage of building materials like lumber and steel, while cost fluctuations for the building products are having increasing impact on business, according to second quarter data from the U.S. Chamber of Commerce Commercial Construction (Index). […]