Economy


  • Grey and yellow freight rail cars sit in a rail yard with a line of railroad tracks between them.
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    Mario Tama via Getty Images

    Biden calls on Congress to prevent rail shutdown

    A rail workers’ strike would carry devastating consequences for the economy and compound supply chain woes, business leaders say.

    By Sarah Zimmerman • Nov. 29, 2022
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    Ron and Patty Thomas via Getty Images

    Diesel’s 407% price jump puts pressure on contractors

    The quadrupling of the fuel's price has both caused and been exacerbated by supply-side kinks as project costs climb.

    By Nov. 28, 2022
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    Permission granted by Associated General Contractors of America
    Trendline

    Labor

    A roundup of articles about issues affecting the workforce.

    By Construction Dive staff
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    skynesher/E+ via Getty Images

    ABI breaks bad in October

    Design work on architects' boards slowed considerably after nearly two years of growth. 

    By Nov. 22, 2022
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    Permission granted by Associated Builders and Contractors

    U.S. will ‘narrowly avoid recession’: Goldman Sachs

    The Fed will slow the pace of tightening next month and early next year but won’t cut the federal funds rate until Q2 2024, Goldman Sachs predicted.

    By Jim Tyson • Nov. 21, 2022
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    Courtesy of Texas Instruments

    Total construction starts jump 8% following 2-month decline

    Nonresidential and nonbuilding starts led the increase, while residential starts tumbled, according to the Dodge Construction Network report.

    By Nov. 17, 2022
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    kali9 via Getty Images

    Construction input prices creep higher

    Despite the climb in nonresidential input costs, most materials saw month-to-month decreases, per an Associated Builders and Contractors analysis.

    By Nov. 17, 2022
  • construction at The Boro in Tysons, VA
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    Permission granted by Associated Builders and Contractors

    Backlog falls below pre-pandemic level, optimism lingers

    Backlog in the commercial and institutional category posted its largest monthly decline since July 2020, according to Associated Builders and Contractors.

    By Nov. 15, 2022
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    Michael Santiago/Getty Images via Getty Images

    AECOM beats on earnings, misses on revenue

    The firm's CEO said slower-than-expected IIJA funding has pushed back the timeline of infrastructure construction projects.

    By Nov. 15, 2022
  • A new building is being constructed with use of tower crane
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    ilkercelik via Getty Images

    Construction’s supply chain outlook: more shortages, price hikes ahead

    Analysts and contractors break down prices and lead times for concrete, cement, steel, lumber, insulation, drywall and HVAC equipment in the coming year.

    By Nov. 14, 2022
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    Michael M. Santiago via Getty Images

    WSP posts rosy Q3 revenue and backlog, increases guidance

    The Montreal-based mega contractor also reported massive workforce growth in the past year, due in large part to its acquisition spree.

    By Nov. 10, 2022
  • Slinger in helmet and vest controls unloading of metal structures on construction site.
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    Sergey Pakulin via Getty Images

    CRE developers reveal their biggest challenges for 2023

    “If you’re in real estate, you are in a recession,” said the author of a new study looking at the main drivers of anxiety among owners.

    By Nov. 10, 2022
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    skodonnell via Getty Images

    Late payments cost construction industry $208B in 2022: report

    Amidst a turbulent economic climate, delayed payments are leading to project holdups and work stoppages, according to respondents of a new survey.

    By Nov. 10, 2022
  • Team of one women architect and two men architects on a construction site. They are looking at blueprint. They are discussing about their project. Shot from above.
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    vitranc via Getty Images

    Top 10 causes of construction claims

    Firms need to turn to technology to help avoid issues like scope changes and incomplete design, according to a new report.

    By Nov. 2, 2022
  • ABC Construction at The Boro on Thursday, June 28 in Tysons, VA.
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    Permission granted by Associated Builders and Contractors

    Investment in structures tumbles in Q3

    Real nonresidential investment posted its steepest decline since the second quarter of 2020, even as the U.S. economy expands, according to an Associated Builders and Contractors report.

    By Nov. 1, 2022
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    Courtesy of Skanska USA

    Skanska profits dip as backlog rises

    Amid economic uncertainties, CEO Anders Danielsson said commercial construction work and bookings remain strong.

    By Oct. 31, 2022
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    Sponsored by GCPay

    Why you can no longer afford to make late payments

    In a pay-when-paid industry like construction, late payments are often the rule, not the exception. The lower down the chain you are, the longer it takes to get paid—and the more these late payments can hurt financial stability and cashflow.

    Oct. 31, 2022
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    Courtesy of Granite Construction

    Granite Construction’s profits flat, revenue falls in Q3

    The Watsonville, California-based contractor nonetheless raised its guidance, and expects a stronger 2023 as it burns the last of its less profitable projects and snags IIJA work.

    By Oct. 28, 2022
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    Q&A

    Use tech to combat ‘Neanderthal’ thinking in construction

    Industry guru Barry LePatner talks about the uniqueness of today’s economic challenges, and giving young pros the technology they need to solve them.

    By Oct. 26, 2022
  • The Statue of Liberty from its right side at dusk, with New York's skyline as a backdrop.
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    Drew Angerer via Getty Images

    NYC construction spending reaches all-time high of $86B

    The New York Building Congress’ strong outlook for the city’s building industry could be hampered by a lack of tax incentives for multifamily projects and other headwinds, per its report.

    By Oct. 25, 2022
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    kali9/iStock.com

    Sponsored by Omega Accounting Solutions

    Should construction companies file for the employee retention credit?

    If your business continued to pay full payroll tax amounts during the pandemic, you now may be entitled to hundreds of thousands of dollars from the IRS through the ERC.

    Oct. 24, 2022
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    f11photo via Getty Images

    Officials approve new Las Vegas Strip resort

    Developers continue to plan massive projects in Sin City, like billionaire Tilman Fertitta’s casino resort, despite warnings of a slowdown.

    By Oct. 20, 2022
  • A sign shows elevated gas prices in California.
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    Justin Sullivan via Getty Images

    Construction input prices fall slightly

    Though the drop in materials costs is welcome, with overall wholesale prices rising at twice the rate analysts expected, the Federal Reserve has more evidence to support another round of interest rate hikes.  

    By Oct. 13, 2022
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    Turner: Labor shortage prompts contractors to be selective about jobs

    Builders are turning to megaprojects to get the most out of their skilled workforce, according to a recent report from the country’s largest contractor.

    By Oct. 11, 2022
  • Rivet II is the second building of a four-phase redevelopment project headed by New Jersey City University.
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    Courtesy of Arc Building Partners
    Q&A

    Construction management firm CEO: recession ‘feels like a self-fulfilling prophecy’

    Construction Dive talks with Frank Ciminelli, president and CEO of Buffalo, New York-based Arc Building Partners, about the pandemic, a potential recession and other challenges in the industry.

    By Oct. 11, 2022
  • Workers set up scaffolding at the construction site of a new apartment building.
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    Sean Gallup via Getty Images

    Contractors added to backlogs in September, expect higher profits

    Associated Builders and Contractors’ Backlog Indicator and Construction Confidence Index rose in September, though outlooks for overall sales remained lower than August and last year. 

    By Oct. 11, 2022