Construction + Economy

Construction employment edged closer to stabilizing in June, as half the states either added construction jobs or kept the same number as in May, the Associated General Contractors reported in an analysis of federal employment data released on Tuesday. Compared to June 2009, construction employment rose in six states, the largest number of states to [...]

FMI’s Construction Outlook: Second Quarter 2010 Report indicates that while there has been some encouraging signs in the general economy, the outlook for put-in-place construction 2010 remains bleak. According to Heather Jones, Construction Economist for FMI Corporation, “Total construction in 2010 will be down 5% after declining in 2009. Residential construction is expected to begin [...]

Aecom Technology Corp. has acquired Tishman Construction Corp. for $245 million. Get the story here.

Even with modest improvements in the overall U.S. economy, nonresidential construction spending is expected to decrease by more than 20% in 2010 with a marginal increase of 3.1% in 2011 in inflation adjusted terms. Poor conditions remain because of an oversupply of nonresidential facilities in most construction categories, weak demand for space, continuing declines in [...]

After three straight months of improving conditions, the Architecture Billings Index (ABI) fell nearly three points. 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 reported the May ABI rating was 45.8, down substantially from [...]

NEMA’s Electroindustry Business Confidence Index (EBCI) for current North American business conditions posted a small gain in June, climbing 1.6 points from May to 70.4. Meanwhile, the EBCI for future North American conditions dropped 6.7 points to 70.4, giving back more than twice the 3.2-point gain recorded in May, but remaining well above the 50-point [...]

Join McGraw-Hill Construction for the 72nd annual Outlook Executive Conference, October 28-29, 2010 at the Capital Hilton Hotel in Washington, DC. Attendees will get a first-hand view of industry trends and the economic forecast that will impact the construction industry in 2011. For more information, and to register, click here.

Construction spending during April 2010 was estimated at a seasonally adjusted annual rate of $869.1 billion, 2.7%% above the revised March 2010 estimate of $845.9 billion and 10.5% below the April 2009 estimate of $971.4 billion, according to new Commerce Department figures. (Note these are estimates and subject to change over the next several months.) [...]

From The New York Times: The law claims that the number of people in a city is inversely proportional to the city’s rank among all cities. In other words, the biggest city is about twice the size of the second biggest city, three times the size of the third biggest city, and so forth … [...]