Economy: Page 11

  • People walk down Wall Street January 22, 2008 in New York City
    Image attribution tooltip
    Getty Images
    Image attribution tooltip

    Election uncertainty doesn’t faze AECOM

    Although new administrations can bring new priorities, long-term building trends around infrastructure and environmental work remain unchanged, said CEO Troy Rudd.

    By Julie Strupp • Aug. 8, 2024
  • A man stands in front of a podium in a suit.
    Image attribution tooltip
    Getty Images
    Image attribution tooltip

    Manufacturing enters ‘deeper slowdown period’ ahead of election: July PMI

    Companies are hesitant to invest in new orders amid high interest rates and political uncertainty, dragging down the industry. 

    By Kate Magill • Aug. 2, 2024
  • AGC image library construction worker with steel Explore the Trendline➔
    Image attribution tooltip
    Permission granted by Associated General Contractors of America
    Image attribution tooltip
    Trendline

    Labor

    A roundup of articles about issues affecting the workforce.

    By Construction Dive staff
  • A construction crew works on a CloudHQ data center on July 17, 2024 in Ashburn, Virginia.
    Image attribution tooltip
    Nathan Howard/Getty Images via Getty Images
    Image attribution tooltip
    Economic Reports

    High interest rates, tight credit conditions stall projects

    Spending on nonresidential construction appears to have hit a period of stagnation, according to ABC’s chief economist.

    By • Aug. 1, 2024
  • Jerome Powell speaking at The Economic Club in DC on July 15, 2024
    Image attribution tooltip
    Nathan Howward via Getty Images
    Image attribution tooltip

    Fed holds rates steady; points to ‘totality’ of data needed for potential September cut

    The central bank continued to maintain rates at their 23-year high, but cracked open the door for a potential cut in September.

    By Grace Noto • Aug. 1, 2024
  • A yellow crane stands in front of a tall, shiny glass building that is mostly constructed.
    Image attribution tooltip
    Permission granted by Alexandria Real Estate Equities, Inc.
    Image attribution tooltip
    Q&A

    DPR lead sees growing demand for US life sciences projects

    The firm is deploying tech earlier in the design process to influence sequencing and how the facilities are built, before extending it to the jobsite to track and manage progress.

    By • July 30, 2024
  • A rendering of a waterfront marine terminal with a red crane.
    Image attribution tooltip
    Courtesy of Equinor
    Image attribution tooltip

    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
  • A rendering of a silver building with the Vinfast logo on a baby blue background, with a parking lot in front of it.
    Image attribution tooltip

    Courtesy of Vinfast.

    Image attribution tooltip

    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
  • Lumber Prices Rise As Housing Start Tick Up In May
    Image attribution tooltip
    Scott Olson/Getty Images via Getty Images
    Image attribution tooltip
    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.
    Image attribution tooltip
    Courtesy of Meta
    Image attribution tooltip
    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.
    Image attribution tooltip
    Brandon Bell/Getty Images via Getty Images
    Image attribution tooltip
    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.
    Image attribution tooltip
    John Moore via Getty Images
    Image attribution tooltip
    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
  • entegris-colorado-springs-facility
    Image attribution tooltip
    Courtesy of Entegris
    Image attribution tooltip

    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.
    Image attribution tooltip
    Jens Schlueter via Getty Images
    Image attribution tooltip

    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,
    Image attribution tooltip
    Brandon Bell/Getty Images via Getty Images
    Image attribution tooltip
    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
  • 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.
    Image attribution tooltip
    Mario Tama/Getty Images via Getty Images
    Image attribution tooltip
    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.
    Image attribution tooltip
    Courtesy of Hard Rock International
    Image attribution tooltip
    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.
    Image attribution tooltip
    Rebecca Noble/Getty Images via Getty Images
    Image attribution tooltip
    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.
    Image attribution tooltip
    Courtesy of UC Davis Health
    Image attribution tooltip

    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
  • Header image for "Fed Minutes Show Heightened Inflation Concerns"
    Image attribution tooltip
    Getty Images
    Image attribution tooltip

    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.
    Image attribution tooltip
    Courtesy of Meta
    Image attribution tooltip

    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.
    Image attribution tooltip
    Mario Tama/Getty Images via Getty Images
    Image attribution tooltip
    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.
    Image attribution tooltip
    Ethan Miller/Getty Images via Getty Images
    Image attribution tooltip
    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.
    Image attribution tooltip
    Getty Images
    Image attribution tooltip
    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
    Image attribution tooltip
    Courtesy of City of Detroit
    Image attribution tooltip

    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.
    Image attribution tooltip
    Courtesy of Meta
    Image attribution tooltip
    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