Economy

  • A rendering of a waterfront marine terminal with a red crane.
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    Courtesy of Equinor
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    Class A offices ‘the winner in this market’: Skanska CEO

    U.S. infrastructure work accounted for a large portion of the Swedish firm’s profits in Q2.

    By • Updated July 23, 2024
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    Courtesy of Vinfast.

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    VinFast pushes back North Carolina factory timeline

    The EV startup says production is now expected to begin in 2028.

    By Haley Cawthon • July 17, 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
  • Lumber Prices Rise As Housing Start Tick Up In May
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    Scott Olson/Getty Images via Getty Images
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    Economic Reports

    Construction input prices dip for second straight month

    The cost of materials tumbled in June, likely due to lower project starts in a number of segments, according to Associated Builders and Contractors.

    By • July 15, 2024
  • aerial shot of Meta's new data center in Rosemount, Minnesota.
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    Courtesy of Meta
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    Economic Reports

    Top 2 largest projects to enter planning involve data center construction

    The Dodge Momentum Index, focused on nonresidential construction planning, is up 43% from June 2019 levels, signaling strong spending for next year.

    By • July 12, 2024
  • An increase in empty office spaces around the country threatens to diminish U.S. business districts.
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    Brandon Bell/Getty Images via Getty Images
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    Economic Reports

    Easing inflation, potential rate cuts boost backlog

    Builders have fared well so far this year despite high interest rates, rising prices and emerging weakness in the broader economy, according to ABC Chief Economist Anirban Basu.

    By • July 10, 2024
  • Construction crews work on Interstate 95 in Connecticut at night.
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    John Moore via Getty Images
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    Economic Reports

    Public construction spending roars, private markets whimper

    Outlays for commercial builds faltered in May as those for civil projects rose again, propelling the overall nonresidential sector to a 6.2% gain for the year. 

    By • July 2, 2024
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    Courtesy of Entegris
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    Entegris to get $75M in CHIPS funding for Colorado plant

    The funds will support the semiconductor supplier's construction of a $600 million, 100,000-square-foot manufacturing center in Colorado Springs.

    By Joelle Anselmo • June 28, 2024
  • A worker assembles Volkswagen's ID.3 electric car at a factory in Germany.
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    Jens Schlueter via Getty Images
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    Trump could roll back Inflation Reduction Act tax credits if reelected

    Volkswagen and Samsung SDI leaders expressed concerns at a conference last week about the stability of the IRA should the administration change.

    By Kate Magill • June 18, 2024
  • An aerial view shows a project site undergoing construction in Austin, Texas,
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    Brandon Bell/Getty Images via Getty Images
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    Economic Reports

    Construction input prices drop for first time in 2024

    Lower material costs also signal the potential for reduced interest rates due to slowing inflation, said Associated Builders and Contractors’ chief economist.

    By • June 13, 2024
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    Mario Tama/Getty Images via Getty Images
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    Economic Reports

    Backlog shrinks after 2 months of gains

    While manufacturing and infrastructure spending keeps contractors busy, material price escalation has reemerged in recent months, said ABC’s chief economist.

    By • June 12, 2024
  • A guitar-shaped building is lit up in purple on the Strip.
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    Courtesy of Hard Rock International
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    Economic Reports

    Data centers, retail lead construction planning

    While certain construction sectors saw growth, the value of newly signed design contracts dipped slightly as owners remain hesitant to commit to new work, the American Institute of Architects said. 

    By • June 10, 2024
  • Biden announced $8.5 billion in federal funding from the CHIPS Act for Intel Corp. to manufacture semiconductors in Arizona.
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    Rebecca Noble/Getty Images via Getty Images
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    Economic Reports

    Construction spending slips but 1 sector shines

    The largest private segment — manufacturing construction — has jumped more than 17% over the past 12 months, according to new federal data.

    By • June 4, 2024
  • The UC Davis Health tower ranked the biggest project to break ground in April, according to Dodge Construction Network.
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    Courtesy of UC Davis Health
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    The largest commercial construction starts of April 2024

    The $3.7 billion UC Davis Medical Center in Sacramento, California, and the $1.8 billion Linde Blue Hydrogen plant in Beaumont, Texas, ranked as the top two projects to get underway last month.

    By • May 28, 2024
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    Getty Images via Getty Images
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    Inflation cools, reassuring Fed after unexpectedly hot gains

    The yield on the benchmark 10-year Treasury note fell on investor speculation that slower inflation will prompt the Fed to sooner cut borrowing costs.

    By Jim Tyson • May 16, 2024
  • A person wearing white gloves rubs a white compound in their hands. beneath them is a box of the stuff.
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    Courtesy of Meta
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    5 contech firms announce funding in 2024’s first half

    Drone-powered roof inspections, cloud-based estimating solutions and fungi-fueled recycling tech earned venture capital in recent months.

    By • May 15, 2024
  • The 165-foot wide crossing, scheduled to be completed in 2026, will blend into the surroundings and allow wildlife to roam above the busy freeway where up to 300,000 vehicles pass daily.
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    Mario Tama/Getty Images via Getty Images
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    Economic Reports

    As backlog rises, so does contractors’ confidence

    New work increased 2.4% last month, but only time will tell if construction optimism is justified in the face of fresh headwinds, said ABC’s chief economist.

    By • May 15, 2024
  • Kicking off the company's construction of a planned 218-mile high-speed rail line connecting Las Vegas and Southern California, Brightline's all-electric, zero-emission trains will travel at a top speed of 200 mph.
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    Ethan Miller/Getty Images via Getty Images
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    Economic Reports

    Construction input prices jump again, continue 2024’s upward climb

    A new ABC report points to yet another sign that inflation is accelerating and that interest rates are set to stay higher for longer.

    By • May 15, 2024
  • Detroit, Michigan, USA downtown skyline from above at dusk.
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    Sean Pavone via Getty Images
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    Deep Dive

    Contractors, owners wait out high interest rates

    As long as the Fed doesn't raise already elevated rates, a steady environment could jump-start stalled projects.

    By • May 14, 2024
  • rendering of the District Detroit project
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    Courtesy of City of Detroit
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    Abandonments tick down, but more builds are being mothballed

    For public projects specifically, the abandonment reading is now lower than at any time since late January, according to ConstructConnect data.

    By • May 10, 2024
  • aerial shot of Meta's new data center in Rosemount, Minnesota.
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    Courtesy of Meta
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    Economic Reports

    Data centers boom again, boost construction planning

    A flood of these megprojects entered the planning queue, reversing a two-month streak of contraction, according to the Dodge Construction Network.

    By • May 8, 2024
  • A statue of a bull stands in New York's financial district.
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    Chris Hondros via Getty Images
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    Data centers are next target for MasTec, CEO says

    While the specialty energy contractor reported a loss for its latest quarter, CEO José Mas said it will bid on $1 billion worth of work for the computing facilities going forward.

    By • May 8, 2024
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    kali9 via Getty Images
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    Economic Reports

    Open construction jobs plunge 40%, but economists question data

    The massive drop may be a statistical anomaly due to construction's scheduling and hiring patterns.

    By • May 2, 2024
  • Las Vegas Breaks Ground On New Brightline West High-Speed Rail Project
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    Ethan Miller/Getty Images via Getty Images
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    Economic Reports

    Public sector lifts nonresidential construction spending as private projects lag

    While the two sides of the industry are going in opposite directions, overall nonresidential outlays have outpaced inflation since the start of the pandemic, an economist said.

    By • May 1, 2024
  • The $1.3 billion Rady Children’s Hospital Intensive Care Unit in San Diego, California.
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    Courtesy of Rady Children’s Hospital-San Diego
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    Construction starts dip for second straight month

    High rates, inflation and restrictive credit suppressed building activity in March, according to Dodge Construction Network.

    By • April 29, 2024
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    Maudib via Getty Images
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    Apartment starts fall more than 43%

    Completions rose 4.6% as developers added more than 500,000 units in March.

    By Leslie Shaver • April 25, 2024