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Tag: economy


News

Construction planning posts largest drop since March

September 11, 2023

Via: Construction Dive

The commercial component of the index, which includes retail, warehouse and office, dropped 1.6% in August, while the institutional sector, encompassing healthcare and education projects, tumbled 14.8%. On a positive note, the DMI remained 4% higher than in August 2022. […]


News

‘Impossible to build’: Vornado postpones NYC development

February 24, 2023

Via: Construction Dive

A full year of higher interest rates will cause 2023 to be a slower year for construction activity, said Vornado CEO Steven Roth during the call. “Steel, concrete and curtain walls are important, but in our business, capital is the […]


Construction Processes, Procurement

Material prices back on the rise

February 17, 2023

Via: Construction Dive

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 […]


Construction Processes, Procurement

Construction input prices log biggest drop since April 2020

January 20, 2023

Via: Construction Dive

December’s reading represents the smallest yearly increase since January 2021, according to ABC. “Recent consumer and Producer Price releases indicate that inflation is fading, though it remains well above the Federal Reserve’s 2% target,” said Basu in the report. “Should […]


News

Tech sector decline saps office construction comeback

December 7, 2022

Via: Construction Dive

Tech slowdowns continue to affect the commercial construction market, particularly the outlook for the U.S. office market. Technology companies accounted for 40.5% of all leasing activity through the third quarter of 2022. That means hiring freezes and slower growth expectations […]


News

Granite Construction’s profits flat, revenue falls in Q3

October 28, 2022

Via: Construction Dive

Granite has made progress in eliminating its group of less profitable projects, as it executes its strategy to move away from sprawling design-build contracts toward simpler projects in its target markets of California, Utah and Arizona. Unfortunately, challenges and delays […]


Construction Processes, Financial

US faces risk of long stagflation struggle: Moody’s

September 27, 2022

Via: Construction Dive

Concerns about a return of 1970s-style stagflation have risen as economic growth slows and price pressures remain high despite the most aggressive withdrawal of stimulus by the Federal Reserve since the 1980s. The murkier outlook has compelled many CFOs to […]


News

Top 10 US metros for construction starts

July 28, 2022

Via: Construction Dive

Despite ongoing challenges like shortages of key materials and labor, rising prices and higher interest rates, the pandemic recovery continues for the construction industry. Growth morphed this year beyond warehouses and single-family housing to include improvement in other commercial sectors […]


Construction Processes, Financial

Construction spending falls in NYC, but outlook is positive

November 5, 2021

Via: Construction Dive

As COVID-19 continues to impact the construction industry, New York City faces an uncertain near-term economic future, according to the report. Delays in the federal infrastructure bill are also not sparking much optimism, it said. But Carlo Scissura, president and […]


Construction Processes, Interaction of Expertise

5 Ways to Improve Productivity in Construction

June 25, 2021

Via: ConstructConnect

Construction is one of the largest industries in the world’s economy that generates trillions of dollars every year. However, the industry faces many challenges like tough competition, low profit margins, cost overruns, and tight project delivery deadlines. These challenges are […]


News, Sustainability

Construction momentum at 12-year high, despite continued challenges

May 11, 2021

Via: Construction Dive

The uptick in the institutional sector, which includes healthcare, education, dormitories, recreation facilities and public buildings such as courts and prisons, seems to be driven by longer-term optimism about the country’s overall progress against COVID-19, even as the hurdles that […]


Sustainability

Can the pandemic’s construction lessons help Biden boost infrastructure?

December 21, 2020

Via: Construction Dive

When New York City Department of Design and Construction Commissioner Lorraine Grillo unveiled the city’s first COVID-19 Center of Excellence in early December, a new 22,000-square-foot medical facility in the Bronx with 40 exam rooms that it built for the […]


Construction Processes, Financial, Legal

House panel blasts banks over gap in PPP processing time

October 20, 2020

Via: Construction Dive

A scathing report published Friday by the House Select Subcommittee on the Coronavirus Crisis illustrated the gulf in Paycheck Protection Program (PPP) loan application processing times at several large banks. JPMorgan Chase processed PPP loans of more than $5 million […]


Construction Processes, Financial

The COVID-19 conundrum: Money is available for new construction projects, but few are breaking ground

August 24, 2020

Via: Construction Dive

Even in a coronavirus-challenged environment, there’s money available to build new projects; what’s rare is finding an owner who is willing to break ground. That’s the takeaway of several observers who have noted a dearth of new construction projects coming […]


Construction Processes, Legal

Infrastructure starts plummet 31% in July, other sectors make small gains

August 19, 2020

Via: Construction Dive

Anirban Basu, chief economist for Associated Builders and Contractors, said the new results reflected a number of impediments that have materialized for construction this summer that are likely to last for some time. “The Dodge construction starts data indicate that […]


Sustainability

May’s +2.5 Million Gets the Ball Rolling in U.S. Jobs Recovery

June 5, 2020

Via: ConstructConnect

For sure, it’s a good start. The Bureau of Labor Statistics (BLS) is reporting today, June 5th, that the total number of U.S. jobs in May rose by 2.5 million. And that the unemployment rate, seasonally adjusted (SA), fell to […]


Construction Techniques

How Tech Helps Streamline and Manage Construction Businesses

May 27, 2020

Via: ConstructConnect

Ever since it struck at the beginning of 2020, COVID-19 has altered our lives. It has wrecked the economy, shoved millions of people out of a job, and locked us inside our homes. Unfortunately, this novel coronavirus is not expected […]


Sustainability

The Economy Under COVID-19: Notes From the Trenches – May 11, 2020

May 11, 2020

Via: ConstructConnect

There are currently two crises underway simultaneously. The advance of the novel coronavirus is taking a terrible toll in terms of physical and emotional well-being. At the same time, job losses resulting from ‘social distancing’ are sending the economy into […]


Sustainability

Weak Velocity of Money & High Savings Rate Save Stock Markets

May 5, 2020

Via: ConstructConnect

North America’s four major stock market indices, as shown in Table 1, all recorded strong recent month-to-month performances. They managed double-digit percentage gains from month-end closings in March to month-end closings in April. The appreciations ranged from a low of […]


Sustainability

The Economy Under COVID-19: Notes From the Trenches – May 4, 2020

May 4, 2020

Via: ConstructConnect

There are currently two crises underway simultaneously. The advance of the novel coronavirus is taking a terrible toll in terms of physical and emotional well-being. At the same time, job losses resulting from ‘social distancing’ are sending the economy into […]