From the Panhandle to the Florida Keys, Floridians could see highway projects expedited and construction workers on the job if the stimulus package becomes a reality. Related Links: Florida Projects Questions Swirl On Stimulus Plan �Ready to Go� May Be The Stimulus Ticket The Florida Dept. of Transportation has nearly $7 billion worth of projects that could start within 90 to 120 days, Gov. Charlie Crist (R) told President-elect Barack Obama in a letter dated Dec. 2. “This infusion of federal support could provide $39 billion in economic benefits and create an additional 195,000 jobs,” Crist wrote. Bob Burleson, president
In Georgia, transportation contractors have been feeling the pinch as the state DOT�s Fast Forward bonding program winds down. The state�s $3.4-billion wish list in anticipation of an economic stimulus program could brighten their outlooks somewhat. It includes more than $2.2 billion in state roadway contracts, including those for maintenance. Related Links: Georgia Projects Questions Swirl On Stimulus Plan �Ready to Go� May Be The Stimulus Ticket Transit received considerable attention from the state Dept. of Transportation when assembling the list. The Metropolitan Atlanta Rapid Transit Authority has about $1.1 billion in contracts that are good-to-go, and an additional $62
When Caterpillar Inc.’s run of record sales and profits is over for the foreseeable future, you know the world’s economic condition is in bad shape. Contractors are hitting the auctions and used-equipment lots. For less-fortunate businesses, it’s liquidation time. Prices are plummeting, and producers are hunkering down. Photo: Hyundai Lifting market still has legs, suppliers say. Photo: Hyundai Hyundai’s 9 Series bids to move up. Related Links: Credit Cancer Kills Prospects for Recession-Proof Global Economy Global Financial Crisis and Recession Is Knocking Down Inflation Worldwide Even Overheated Gulf Market Moves Into a Slump in a Changing Economy Prices Go Awry
The U.S. financial crisis spread rapidly to the rest of the world during the second half of the year, slowing the global economy and rolling back construction inflation in Europe, Asia, the Middle East and North America. In particular, the economic slowdown in China has taken away one of the main drivers of global construction inflation as China’s once voracious appetite for raw materials evaporates. Related Links: Credit Cancer Kills Prospects for Recession-Proof Global Economy Global Financial Crisis and Recession Is Knocking Down Inflation Worldwide Even Overheated Gulf Market Moves Into a Slump in a Changing Economy Prices Go Awry
After several years of unprecedented demand and annual double-digit increases, costs for basic construction materials in the Middle East hit a major market barrier this fall. Whether the correction is short-lived or continues through 2009 or even 2010 is an open question, according to analysts. (Click to Enlarge Image) Sources: Rider Levett Bucknall. Percent Change Is From Peak 2008 Price To November 2008. Prices Are For The U.A.E. Related Links: Credit Cancer Kills Prospects for Recession-Proof Global Economy Global Financial Crisis and Recession Is Knocking Down Inflation Worldwide Even Overheated Gulf Market Moves Into a Slump in a Changing Economy
Uncertainty prevails in Asian construction markets this quarter as the global financial scare causes materials price indexes to go awry. A drop in building demand across China and Southeast Asia in the past two months has sparked a broad-based deflation of materials prices following record-high levels for steel, scrap, rebar, copper, and others, which peaked just months ago. (Click to Enlarge Image) Source: Davis langdon & seah. Asian Construction Inflation Related Links: Credit Cancer Kills Prospects for Recession-Proof Global Economy Global Financial Crisis and Recession Is Knocking Down Inflation Worldwide Even Overheated Gulf Market Moves Into a Slump in a
Officials with the North Carolina Dept. of Transportation see an expected federal stimulus package as a welcome boost to its sagging capital program. It has projects worth a total of $5 billion that could be �shovel-ready� within 180 days. Although there was a steady stream of contracts let in 2008, by December NCDOT had started laying off workers and reevaluating project needs. Related Links: North Carolina Projects Questions Swirl On Stimulus Plan �Ready to Go� May Be The Stimulus Ticket “The North Carolina Dept. of Transportation is having to lay off temporary workers in its field offices and take other
The Ohio Dept. of Transportation has a draft list of projects worth almost $3 billion that could benefit from a federal stimulus program. But that list is growing�perhaps to even double that figure�as ODOT continues to gather information, says spokesman Scott Varner. �But so much will depend on the restrictions placed on the dollars coming from Washington,� he cautions. �An important factor will be the ability to invest dollars across broad spending categories, and not just on construction. Ohio is losing planning and design jobs every day. These are real jobs and are important to the economy and future of
The Faithful & Gould Parity Index is designed to clarify the international cost picture, which can be distorted by gyrations in currency exchange rates. The index is based on put-in-place rates for 26 basic items used in the construction of a manufacturing facility. The parity index value in the table shows construction costs at each location relative to Chicago. A parity of 0.78 for Great Britain implies that £0.78 of construction is equivalent to $1 of work in Chicago. To calculate a relative index value, divide the parity value of the exchange rate and multiply by 100. In this study,
The global recession has not missed Mexico, which is seeing many large commercial projects being postponed or cancelled. However, large industrial and public works projects are going forward as the government fights back by stepping up public-works spending. The result has been a mixed impact on prices of construction materials in Mexico. (Click to Enlage Image) Source: Gardiner & theobald inc. Annual building tender price inflation. Mexico Building Inflation Related Links: Credit Cancer Kills Prospects for Recession-Proof Global Economy Global Financial Crisis and Recession Is Knocking Down Inflation Worldwide Even Overheated Gulf Market Moves Into a Slump in a Changing
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