Total construction spending rose modestly for the third straight month in April as a mix of increases and declines in public and private categories showed the sector’s recovery remains fragile and fragmented, according to a recent analysis of new Census Bureau data by the Associated General Contractors of America. “Residential, private nonresidential and public construction spending all have areas of strength but also pockets of weakness,” said Ken Simonson, the association's chief economist. “While the overall trend remains more positive than last year, growth is likely to be spotty for the foreseeable future.”Construction put in place totaled $954 billion in
The Conference Board Consumer Confidence Index, which had decreased in April, improved moderately in May. The index now stands at 83.0 (1985=100), up from 81.7 in April. The Present Situation Index increased to 80.4 from 78.5, while the Expectations Index edged up to 84.8 from 83.9 in April. Consumers’ assessment of present-day conditions also improved in May. Those stating business conditions are “good” decreased to 21.1% from 22.2%, while those stating business conditions are “bad” declined to 24.1% from 24.8%.Consumers’ assessment of the labor market was more favorable. Those claiming jobs are “plentiful” rose to 14.1% from 13.0%, while
The Institute for the Built Environment at Colorado State University will help working professionals learn how to align four key business sectors— people, resources, facilities and organization—with a new Integrated Sustainability Management Badge and Certificate program starting this summer. The program is targeted toward sustainability professionals working in all industries, and is divided into four 15-hour segments called badges. Those who complete all four badges earn the Integrated Sustainability Management Certificate.The People badge will teach participants about messaging, getting good data and knowing how to use it and designing effective behavior change campaigns. The Resources badge will cover supply chain
Construction firms added jobs in 39 states and the District of Columbia over the past 12 months and in 29 states and D.C. between March and April according to a recent employment analysis by the Associated General Contractors of America of Labor Department data. “Growing demand for a range of construction services and better weather helped boost construction employment in most states in April,” said Ken Simonson, the association’s chief economist. “But we are still a long way away from getting back to the kind of employment levels the industry experienced nearly a decade ago.”Florida led all states in both
McKinstry and Douglas County School District (DCSD) are set to begin construction on planned facility improvements that will reduce the district’s energy and operational costs by $248,177 a year. Construction will take place at ThunderRidge High School and the Wilcox Building later this month. This is the second phase of an energy savings program involving McKinstry and DCSD, which began in 2013. Construction for the new phase is expected to be completed in September. The total cost of phase two is $4.72 million, which includes a one-time utility rebate of $173,881. The project will accomplish $2.1-million worth of previously unfunded
American businesses large and small say medical cost inflation, legal liabilities and technology risks are among their top concerns, according to the new annual Business Risk Index from insurance provider Travelers. A recent survey polled more than 1,100 business decision-makers to better understand what they believe pose the biggest threats to their business. Many leaders said the risks they identified as their biggest concerns are also the issues their business is least prepared to address.“While the new Business Risk Index revealed some typical risks for businesses, it also uncovered some uncertainties that are indicative of the times, including medical cost
The Broadmoor West received its certificate of occupancy in mid-May, marking the final step on the $45-million, 26-week “flash-track” renovation and addition to the historic Colorado Springs hotel. Photo courtesy of GE Johnson Construction General contractor GE Johnson Construction, Colorado Springs and Denver, completed the vertical expansion and complete reconstruction two days ahead of schedule, more than 200,000 sq ft of ultra-high end construction in less than six months.Guests began arriving May 15 to mark the next chapter in the history of the resort and kick off what promises to be an extremely busy tourism season.Designed by CSNA Architects, Colorado
Denver International Airport is retrofitting more than 5,400 lights located in the airport’s east and west parking garages with energy-efficient LED fixtures, resulting in substantial energy and cost savings. The majority of the lights—high-pressure sodium bulbs rated for 188 watts per fixture—are being replaced with 51-watt LEDs. Combined with other lighting systems in the overall retrofit package, DIA expects a net energy savings of about 45%, resulting in energy cost savings of about $327,000 per year.Over the system’s estimated lifespan of 20 years, the airport expects to save more than $6.5 million in electricity costs. The new fixtures will also
Overall construction materials prices increased 0.4% in April and are up 1.5% year over year, according to the May 14 Producer Price Index released by the U.S. Dept. of Labor. Nonresidential construction material prices were up 0.5% for the month and are 1.4% higher than the same time last year. “Construction materials prices have increased for five consecutive months, the longest streak in more than two years,” said Associated Builders and Contractors Chief Economist Anirban Basu. “While some may interpret this increase as the onset of a period associated with significantly higher inflation, it seems more likely that the consistent
The unemployment rate in construction dropped to the lowest April level in seven years as contractors added 32,000 workers to payrolls. The increase lifted industry employment to 6 million, the highest level since June 2009, according to a recent analysis of new government data by the Associated General Contractors of America. “It is heartening that all categories of construction employers added workers, not only in April but over the past 12 months,” said Ken Simonson, the association’s chief economist. “Moreover, contractors have been adding to workers’ hours as well as hiring more employees.”Construction employment totaled 6 million in April, a