The value of new construction starts climbed 9% in January to a seasonally adjusted annual rate of $621.0 billion, according to Dodge Data & Analytics. The increase for total construction was the result of an especially strong performance by the nonbuilding construction sector, which benefitted from the start of a massive liquefied natural gas terminal facility in Texas. Meanwhile, nonresidential building lost momentum for the second month in a row and residential building pulled back due to a slower pace for multifamily housing. On an unadjusted basis, total construction starts in January were reported at $43.2 billion, up 18% from
Following a nine-month stretch of positive billings, the Architecture Billings Index (ABI) showed no increase in design activity in January. As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lead time between architecture billings and construction spending.The American Institute of Architects reported the January ABI score was 49.9, down from a mark of 52.7 in December. This score reflects a very modest decrease in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 58.7, down from the reading of 59.1 the previous month.“This easing in
The Colorado Dept. of Transportation’s Transportation Commission decided on Feb. 19 to move forward with a design-build finance operate maintain (DBFOM) method for the finance and delivery of the I-70 East project from I-25 to Denver International Airport. “CDOT will be able to deliver this project beyond what it could do with its limited funds by partnering with the private sector for the construction, operation and maintenance responsibilities,” said Transportation Commissioner Chairman Ed Peterson.“The commission’s decision was based on being the best stewards of public money and trust; however it is important to note that this is just one step
Construction input prices dipped 2% in January and have now failed to rise for six consecutive months, according to the Feb. 18 producer price index (PPI) release from the U.S. Dept. of Labor. On a year-over-year basis, construction input prices are down 3.6%. In addition, nonresidential construction input prices fell 2.1% on a monthly basis and 4.6% on a yearly basis. “The decline in oil and petroleum prices finally showed up in the PPI data,” said Associated Builders and Contractors Chief Economist Anirban Basu. “According to the Bureau of Labor Statistics, crude petroleum prices fell 30.6% for the month and
Regional Transportation District staff presented on Feb. 3 a final list of four teams to the RTD Board of Directors to bid on the Southeast Rail Extension project. The extension, which is part of RTD’s 2004 voter-approved FasTracks plan, will add 2.3 miles of track from Lincoln Station to RidgeGate Parkway. Seven construction teams initially responded to the request for qualifications. The final four teams selected to bid on the project are:• Balfour Beatty Infrastructure with Parsons Brinckerhoff (serving as prime contractor and performing systems and design work)• Graham–Kraemer Joint Venture (prime contractor) with Modern Railway Systems (systems), Stantec (design)•
Construction spending rose in December to a six-year high of $982 billion as public construction for the year increased for the first time since 2009, according to a recent analysis by the Associated General Contractors of America. Association officials said President Obama’s recent budget proposal and his suggested infrastructure funding program should help construction spending continue to grow by accelerating debate about the best way to fund repairs to the nation’s aging roads, bridges and other public infrastructure.“For the first time in nearly a decade, there was growth in all three major construction segments—public, private nonresidential and residential,” said Ken
Construction input prices dipped 1.4% during the final month of 2014 and are down nearly 1% on a year-over-year basis, according to the Jan. 15 producer price index release from the U.S. Dept. of Labor. Inputs to nonresidential construction fell even farther, down 1.7% for the month and 1.9% year over year. December’s report marks the sharpest decline in input prices since late 2008 during the global financial crisis and the fifth consecutive month construction materials prices have failed to rise.“Without question, financial markets have been unnerved by the recent declines in oil, copper and other commodity prices, although that
The Conference Board Consumer Confidence Index, which had increased in December, rose sharply in January. The index now stands at 102.9 (1985=100), up from 93.1 in December. The Present Situation Index rose to 112.6 from 99.9, while the Expectations Index increased to 96.4 from 88.5 in December. Consumers’ assessment of present-day conditions was considerably more favorable in January than in December. Those saying business conditions are “good” increased from 24.7% to 28.1% while those claiming business conditions are “bad” decreased from 18.9% to 16.8%.Consumers were also much more positive in their assessment of the job market. Those stating jobs are
The U.S. construction industry added 48,000 jobs in December, including 22,800 jobs in nonresidential construction, according to the Bureau of Labor Statistics (BLS) preliminary estimate released on Jan. 9. November’s estimate was unchanged in the release, remaining at 20,000 net new construction jobs, but nonresidential construction’s November jobs figure was upwardly revised to 7,100 jobs. “The U.S. economy added an average of 289,000 jobs per month during the final three months of 2014, indicating that momentum is surging as we transition into 2015,” said Associated Builders and Contractors Chief Economist Anirban Basu.“This represents good news for the construction industry in
Lakewood-based Red Rocks Community College has landed a $1-million grant to expand its Arvada campus. The grant was made by Community First Foundation, a 40-year-old foundation that aims to improve the quality of life and create positive change. Renderings courtesy of RRCC The new Arvada Health Professions and Science Building will cluster all of the college's health-professionals programs into one place. The money will go toward building the Arvada Health Professions and Science Building. It is the largest private gift in the college’s $22.5-million campaign to triple the size of the Arvada campus. It is also one of the largest
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