Economy

  • Construction cranes line the city skyline at dusk in New York City.
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    Economic Reports

    US crane count holds steady in Q3

    American and Canadian cities saw 15 fewer total cranes in the third quarter of 2024 than in the first, but construction activity remains robust.

    By • Oct. 11, 2024
  • Kentucky Venues leadership unveiled the visual concepts for the Kentucky Exposition Center’s Phase I & II renovations.
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    Courtesy of Kentucky Exposition Center
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    Economic Reports

    Planning activity softens after months of growth

    Slowdowns in office, warehouse and retail projects drove much of September’s decline, but overall activity is still up for the year.

    By • Oct. 8, 2024
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    sandsun via Getty Images
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    Trendline

    Top 5 stories from Construction Dive

    Construction Dive editors curate some of the industry’s top stories from this year.

    By Construction Dive staff
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    Chip Somodevilla via Getty Images
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    Opinion

    9 year-end tax tips for general contractors

    Company leaders should take time to review the tax implications of their business and operations now, writes a CPA focused on construction.

    By Anita Mahamed • Oct. 8, 2024
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    Courtesy of San Francisco International Airport / Karl Nielsen
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    Economic indicators: August 2024

    Construction Dive rounds up key industry data such as backlog, planning activity, input costs, starts and spending.

    By Construction Dive Staff • Oct. 8, 2024
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    Mario Tama/Getty Images via Getty Images
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    Economic Reports

    Project abandonments drop amid contractor optimism

    Both private and public sectors appear to be benefitting from falling interest rates and a positive outlook, according to a construction economist.

    By • Oct. 3, 2024
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    Panupong Piewkleng via Getty Images
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    Economic Reports

    Construction job openings leap monthly by record amount

    After several months of cooling, which experts speculate was mostly confined to the residential sector, unfilled positions increased by 138,000 in August.

    By • Oct. 2, 2024
  • Construction work is done around the Federal Reserve building on September 17, 2024 in Washington, DC.
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    Anna Moneymaker/Getty Images via Getty Images
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    Economic Reports

    Public projects keep nonresidential construction afloat

    Government funding accounted for the entirety of the monthly increase in spending, according to ABC's chief economist.

    By • Oct. 1, 2024
  • Rendering of the $900 million Geisinger Wyoming Valley Hospital in Wilkes-Barre, Pennsylvania.
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    Courtesy of Geisinger
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    Economic Reports

    The 9 largest commercial construction starts of August 2024

    Total groundbreakings climbed 6% during the last month of the summer, according to Dodge Construction Network.

    By • Sept. 26, 2024
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    Anna Moneymaker via Getty Images
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    Construction pros expect interest rate cut to spur new work

    Executives said the full impact will take time to materialize as financing terms and project planning catch up to the new environment.

    By • Sept. 18, 2024
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    EricFerguson via Getty Images
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    Opinion

    Signs that a project partner is in distress

    Noticing the red flags and knowing how to act is vital for fending off potential problems, according to a construction attorney.

    By Dan Rosenberg • Sept. 18, 2024
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    Tennessee Witney via Getty Images
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    Opinion

    How to tell if a project owner is in financial trouble

    In today’s volatile lending environment, it's important to know the signs that could indicate a client is in distress, says a construction attorney.

    By Dan Rosenberg • Sept. 16, 2024
  • Border fence construction materials sit unused on the U.S.-Mexico border.
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    Rebecca Noble/Getty Images via Getty Images
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    Economic Reports

    Construction input costs stabilize as contractors eye relief

    Material prices sit almost a full percentage point lower than last year, a “welcome development” for builders, said Anirban Basu, ABC chief economist.

    By • Sept. 13, 2024
  • Rendering of the $440 million Geisinger medical center tower in Danville, Pennsylvania.
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    Courtesy of Geisinger
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    Economic Reports

    Planning activity jumps ahead of Fed meeting

    Owners and developers added more projects to the queue in August, expecting stronger market conditions next year, per Dodge Construction Network.

    By • Sept. 12, 2024
  • Two construction workers work together on a mixed-use apartment complex
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    Mario Tama/Getty Images via Getty Images
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    Economic Reports

    Construction backlog slips as contractors lose confidence

    Projects in the pipeline now trail last year’s pace by one month as a slowing economy begins to weigh on builders’ books.

    By • Sept. 11, 2024
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    interstid via Getty Images
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    Sponsored by Merchants Bonding Company

    The snowball effect

    Contractors' cash crunch problems are snowballing into other issues – what’s driving the trend?

    By Jay Farley, Vice President - Claims, Merchants Bonding Company • Sept. 9, 2024
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    Chip Somodevilla via Getty Images
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    Tax compliance costs surge 32% since 2017: Tax Foundation

    Efforts to simplify the federal tax code have failed to reverse decades of regulatory and legislative changes that have made it more complex.

    By Jim Tyson • Sept. 6, 2024
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    Leontura via Getty Images
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    Opinion // Business Matters

    How to maintain a steady backlog

    Measuring future work is one way to help it grow, according to consultant Matt Verderamo.

    By Matt Verderamo • Sept. 5, 2024
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    Sean Anthony Eddy via Getty Images
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    Job openings drop again, but commercial builders still seek workers

    Despite a 17% fall in unfilled positions in July, economists say nonresidential contractors are looking to hire craftworkers.

    By • Sept. 5, 2024
  • Construction continues on a mixed-use apartment complex that will hold more than 700 units of housing and 95,000 square feet of commercial space on August 20, 2024 in Los Angeles, California.
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    Mario Tama/Getty Images via Getty Images
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    Economic Reports

    Construction spending dips again as contractors await Fed relief

    Fluctuations in recent months stem from a worsening shortage of qualified workers, according to AGC’s chief economist.

    By • Sept. 3, 2024
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    unkas_photo via Getty Images
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    Apartment starts increase monthly, but fall YOY

    Meanwhile, multifamily completions jumped 50% from last July and the number of units under construction dropped.

    By Leslie Shaver • Aug. 27, 2024
  • A rendering of a large cluster of manufacturing facilities and surrounding parking lots.
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    Courtesy of Novo Nordisk
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    Economic Reports

    The 9 largest commercial construction starts of July 2024

    Total groundbreakings for the month jumped 10% ahead of the Fed’s likely rate cut, according to Dodge Construction Network.

    By • Aug. 26, 2024
  • A rendering of a skyscraper overlooking a park in a city.
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    Courtesy of Extell
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    Lendlease reports $1B loss as it sells off US work

    The Australian company is moving away from international projects with a plan to deploy funds from divesting into successful sectors at home.

    By • Aug. 20, 2024
  • A shot of the outside of a refurbished warehouse. The light-brown-colored bricks shine next to new windows under a blue sky.
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    Permission granted by Balfour Beatty
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    ‘Momentum’ the word of the day for Balfour Beatty

    The London-based builder reversed its decline in pre-tax profit and signaled that it is eyeing big opportunities in U.K. and U.S. markets.

    By • Aug. 16, 2024
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    Scott Olson/Getty Images via Getty Images
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    Economic Reports

    Rising energy costs drive up construction inputs

    Following two consecutive months of relief, price hikes in petroleum and natural gas pushed costs higher for the first time since April.

    By • Aug. 15, 2024
  • The replenishment project, which also includes Rehoboth Beach, Dewey Beach, South Bethany and Fenwick Island, costs in excess of $24 million
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    Kevin Dietsch/Getty Images via Getty Images
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    Economic Reports

    Construction backlog stagnates, squeezing smaller contractors

    Only the country’s largest contractors have a longer backlog than they did last year, according to Associated Builders and Contractors.

    By • Aug. 13, 2024