Construction + Economy

New construction starts are forecast to rise 6% this year to $506 billion, according to the mid-year update to the 2013 Construction Outlook from McGraw-Hill Construction. This is the same rate of increase for total construction starts that was predicted last October, and follows the 8% gain that took place in 2012. “The recovery for [...]

With slower than expected activity in the nonresidential construction sector in the first half of the year, the projections for growth in spending have been scaled back. Led by the hotel and retail project categories, the commercial sector looks largely unchanged, but a noteworthy drop in demand for institutional projects has caused participants in the [...]

Phil Warner, Research Consultant for FMI Corporation, says improvement in residential construction is the primary area of growth in the firm’s latest construction forecast: Most other sectors, while still improving over 2012, are growing at a somewhat slower rate. One of the reasons for this slow growth continues to be uncertainty caused by the federal [...]

NEMA’s Lighting Systems Index increased in the first quarter of 2013 following a 3.4 gain in the fourth quarter of 2012, growing 5.4 percent on a quarter-to-quarter basis and by 3.8 percent on a year-over-year basis. Lighting equipment demand has struggled to gain traction since the recovery began and remains well below the levels observed [...]

As the once struggling residential market continues to steadily improve, the size of homes has grown in response. This is the case for both high-end and custom homes as well as additions to existing homes. In addition, preferences for accessible spaces in homes—such as open-space layouts and single-floor design—also continue to rise. Led by continued [...]

Following the first reversal into negative territory in ten months in April, the Architecture Billings Index has bounced back in May. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the May [...]

NEMA’s Electroindustry Business Confidence Index (EBCI) for current conditions in North America rose in June, up from 55.9 in May to 56.7, and continued to show signs of improvement in the business environment by remaining above the 50-point mark for the eighth consecutive month. Confidence in future business conditions also rose in June as the [...]

NEMA’s April Electroindustry Business Confidence Index (EBCI) for current North American business conditions showed continuing improvement in April, with the index increasing to 66.7 from the 65.9 reported in March. Confidence in future business conditions declined in April, but remains firmly in territory suggested of positive growth. The EBCI for North American conditions six months [...]

The Architecture Billings Index (ABI) is reflecting a steady upturn in design activity. As a leading economic indicator of construction activity, the ABI reflects the approximate 9- to 12-month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the March ABI score was 51.9, down from a mark of [...]