Economy

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    Economic Reports

    Higher material prices here to stay

    More upward pressure on the cost of building products will lead to a permanent shift in prices, according to construction industry sources.

    By • June 1, 2023
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    Courtesy of Associated Builders and Contractors
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    Economic Reports

    ‘What recession?’ Nearly all sectors see strong construction spending

    Most nonresidential categories jumped in April, led by 8.6% growth in manufacturing construction.

    By • June 1, 2023
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    Permission granted by Associated General Contractors of America
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    Trendline

    Labor

    A roundup of articles about issues affecting the workforce.

    By Construction Dive staff
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    Spencer Platt/Getty Images via Getty Images
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    Infrastructure act

    New York builders group looks to accelerate IIJA funding

    “We’re still sitting on billions of unspent federal dollars,” said Carlo Scissura, CEO and president of the New York Building Congress. 

    By • May 24, 2023
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    Courtesy of Jackson County Detention Center
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    Project Milestones

    Construction costs push JE Dunn jail project price up 17%

    Rising materials costs caused a delay on the $301 million detention center in Kansas City.

    By • May 19, 2023
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    Courtesy of Mutual of Omaha
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    Manufacturing starts, construction’s safety blanket, slump 68%

    Despite the pullback, Dodge’s chief economist maintains underlying trends point to a “very healthy sector.”

    By • May 18, 2023
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    Kevin Dietsch/Getty Images via Getty Images
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    Debt ceiling breach would sink construction starts by as much as 30%

    If policymakers fail to avert the crisis by the June deadline, all types of building activity would slow, including projects boosted by federal funding packages, according to Dodge.

    By • May 18, 2023
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    Courtesy of Associated Builders and Contractors
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    Economic Reports

    Backlog rebounds from 7-month low

    Boosted by a strong pipeline of infrastructure projects, contractors continue to express confidence in their six-month outlooks, despite economic headwinds.

    By • May 16, 2023
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    Courtesy of Flatiron
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    WSP profits, backlog up, buoyed by US projects

    CEO Alexandre L’Heureux expects opportunities in the U.S. to stay robust, and said he sees artificial intelligence as an enabler, not a disrupter.

    By • May 11, 2023
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    Courtesy of Associated Builders and Contractors
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    Annual material prices trend lower for second straight month

    Despite an overall decline in input prices, double-digit annual cost increases persist for certain critical construction commodities.

    By • May 11, 2023
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    Anna Moneymaker via Getty Images
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    Business, construction leaders urge quick resolution to looming debt ‘catastrophe’

    President Joe Biden and congressional leaders met this week as the threat of a default on the country’s $31.4 trillion debt grows.

    By • May 11, 2023
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    sandsun via Getty Images
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    US hotel construction pipeline grows as developers eye cost-effective projects

    According to a Lodging Econometrics report, recovery in travel demand led to first-quarter pipeline growth, though developers are seeking alternatives to new construction.

    By Jenna Walters • May 11, 2023
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    Courtesy of F.E. Warren Air Force Base
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    Construction’s profit margins sink to lowest level since mid-pandemic

    U.S. construction firms’ bottom lines plummeted 27% in the first quarter of this year, a trend reflected in many public contractors’ earnings reports.

    By • May 10, 2023
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    The image by NC3D is licensed under CC BY 2.0
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    AECOM reports record backlog as profits jump

    CEO Troy Rudd said he expects infrastructure, resilience and energy transition opportunities to grow worldwide in the coming decades.

    By • May 10, 2023
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    Sean Pavone via Getty Images
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    Office vacancy rate hits 30-year high

    Unleased office rates reached 17.8% in Q1, as hybrid work and recession fears weighed on demand, according to CBRE.

    By Maura Webber Sadovi • May 10, 2023
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    -slav- via Getty Images
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    Bank failures put squeeze on construction loans

    The lending environment, which has grown more treacherous over recent weeks, could dampen new multifamily starts by as much as 60%, according to one executive.

    By Leslie Shaver • May 9, 2023
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    Courtesy of Desert Diamond Casino
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    Construction planning drops 2 months in a row

    Weak activity for offices, hotels and retail pulled the Dodge Momentum Index lower.

    By • May 8, 2023
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    Spencer Platt via Getty Images
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    Blame it on the weather: Granite pegs Q1 loss, revenue dip to extreme storms

    Despite delays, the California contractor boosted its backlog to a record $5.1 billion and said its shift to smaller, lower risk projects was bearing fruit.

    By • May 2, 2023
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    Courtesy of Associated Builders and Contractors
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    Manufacturing sustains construction spending — again

    The manufacturing boom is helping the industry weather softening residential and other nonresidential markets.

    By • May 1, 2023
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    Q&A

    Market uncertainty splits construction into ‘haves and have-nots’

    Dodge’s Richard Branch talks with Construction Dive about recent banking turmoil, industry bifurcation and standout sectors in 2023.

    By • April 26, 2023
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    Construction starts ‘likely to erode,’ economist says

    Building activity remains high for now, despite increased concerns around the economy and tightened lending standards, per Dodge Construction Network.

    By • April 25, 2023
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    howtogoto via Getty Images
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    Subcontractors spent $97B more than planned in 2022

    Prices for materials and labor continued to rise last year, as subcontractors often waited two and a half months before they secured payment.

    By • April 21, 2023
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    George Frey via Getty Images
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    How contractors use tech to tighten up supply chains

    Centralized material tracking is key to shoring up the weak links in the procurement process exposed by the pandemic, construction execs say.

    By Robyn Griggs Lawrence • April 19, 2023
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    The country’s top 25 apartment builders

    Summit Contracting Group topped the National Multifamily Housing Council’s ranking, reflecting the company's growth and an active period for the sector, said President Marc Padgett.

    By Leslie Shaver • April 19, 2023
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    Courtesy of Associated Builders and Contractors
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    Deep Dive

    Banking turmoil stirs up new headwinds for construction

    Recent uncertainty among lenders could lead to new challenges for U.S. construction firms as more projects fail to pencil out.

    By • April 17, 2023
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    Courtesy of Associated Builders and Contractors
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    Material prices are finally lower than a year ago

    Collectively, commodity costs dropped year-over-year for the first time since August 2020, even as some items continued to get more expensive.

    By • April 13, 2023