Overall, construction materials prices fell 0.5% in November and are up only 1.1% year over year, according to the Dept. of Labor’s Dec. 13 Producer Price Index. Nonresidential construction materials are down 0.6% for the month and are 0.7% lower than the same time last year. “November represented another month of remarkable stability for construction input prices,” said Associated Builders and Contractors (ABC) Chief Economist Anirban Basu. “Although many investors predicted significant inflation this year due to expansionary monetary policies in much of the developed world, there continues to be a lack of significant inflationary pressures both globally and nationally.”Overall,
The Equipment Leasing & Finance Foundation says in its November 2013 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) that overall confidence in the equipment finance market is at 56.9, an increase from the October index of 54.0. The report says the November index demonstrates an overall steady industry outlook despite continuing concerns about the U.S. economy and the negative impact of federal government fiscal policies. Designed to collect leadership data, the index offers a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $827-billion equipment finance sector.When
Construction materials prices fell 0.2% in October and are down 0.3% year over year, according to the Nov. 21 Producer Price Index released by the U.S. Dept. of Labor. Nonresidential construction materials are down 0.5% for the month and are unchanged from the same time one year ago. “We continue to observe a lack of significant inflationary pressures both globally and nationally,” said Associated Builders and Contractors Chief Economist Anirban Basu. “Despite ongoing expressions of concern regarding inflation due to stimulus measures being conducted by the U.S. Federal Reserve and other major central banks around the world, the data continue
An unusual surge in public construction in October pushed total construction spending to its highest level since May 2009, despite a dip in both private residential and nonresidential activity, according to a recent analysis of new Census Bureau data by the Associated General Contractors of America. “Nearly every category of public construction increased in October, according to the preliminary Census figures, although for the first 10 months of 2013 combined, public spending continues to lag the 2012 year-to-date total,” said Ken Simonson, the association's chief economist. “Meanwhile, residential spending slipped for the month but still showed strong year-to-date gains, and
The Denver Housing Authority learned in late November that it will receive a Choice Neighborhoods Planning Grant to help stimulate development in Denver’s Sun Valley neighborhood. The U.S. Housing and Urban Development presented DHA with $500,000 to provide the Sun Valley community with seed funding to craft to revitalize housing and transform the neighborhood. “Through this investment, HUD and its partners are able to provide better opportunities for people living in neighborhoods of concentrated poverty and segregation and offer choices that help families live closer to jobs and schools,” said HUD Assistant Secretary for Housing/FHA Commissioner Carol Galante. Rick Garcia, HUD’s
Construction employment increased in 39 states over the past 12 months, the most widespread gains since April 2012, according to a recent analysis by the Associated General Contractors of America of U.S. Dept. of Labor data. Association officials said action on needed infrastructure investments for water and transportation projects would help support continued employment growth for the industry. “It is encouraging that three-quarters of the states are now adding construction jobs on a year-over-year basis,” said Ken Simonson, the association’s chief economist. “Employment increases are still intermittent in too many states, however, and nearly all states are far below their
The Conference Board Consumer Confidence Index, which had decreased sharply in October, declined again in November. The index now stands at 70.4 (1985=100), down from 72.4 in October. The Present Situation Index edged down to 72.0 from 72.6. The Expectations Index declined to 69.3 from 72.2 last month. Consumers’ assessment of overall current conditions decreased slightly. Those claiming business conditions are “good” edged up to 19.9% from 19.5%, while those claiming business conditions are “bad” increased to 25.2% from 23.0%. Consumers’ appraisal of the job market was little changed. Those saying jobs are “plentiful” ticked up to 11.8% from 11.6%,
The American Road & Transportation Builders Association (ARTBA) is forecasting that beyond a modest increase in construction costs nationwide, the overall U.S. transportation infrastructure construction market will grow 5% from $129 billion this year to $135.8 billion in 2014. ARTBA Chief Economist Dr. Alison Premo Black says the market would be led by expected double-digit growth in airport runway and terminal work, a 6% increase in bridge and tunnel construction, and 5%, or better, growth in total investment in waterways and ports, and heavy and light rail. Uncertainty about the level of federal support for state highway programs after
A recently completed rehabilitation of the 1911 Silverton School in Silverton, Colo., has earned LEED-Gold certification. Silverton School is one of a small number of historic K-12 schools worldwide to achieve that designation. Photo courtesy of Anderson Hallas Architects The $9-million rehabilitation transformed the 1911 school building into a modern, functional learning center. Photo courtesy of Anderson Hallas Architects The main hallway of the school was preserved and restored to its historic character. The new school is a big turnaround from the aging building whose 98-year-old, coal-fired boiler gave out in November 2008. Now it is a carefully restored historic
After three months of accelerating demand for design services, the Architecture Billings Index reflected a somewhat slower pace of growth in October. 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 October ABI score was 51.6, down from a mark of 54.3 in September. This score reflects an increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 61.5, up from the reading of 58.6 the previous month.“There continues to
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