Economy: Page 14

  • Rendering of the $1.9 billion Children’s Hospital of Philadelphia Inpatient Tower.
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    Courtesy of Children’s Hospital of Philadelphia
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    Economic Reports

    High interest rates knock construction starts to 10-month low

    Following October’s staggering 32% drop, nonbuilding work fell another 2% in November, with the highway and bridge sector tumbling 8%, according to Dodge.

    By • Dec. 21, 2023
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    US regulators flag commercial real estate as a leading risk in 2024

    “Signs of stress emerged in 2023, and the market outlook is challenging” for commercial real estate, according to the Financial Stability Oversight Council.

    By Jim Tyson • Dec. 21, 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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    Courtesy of Purdue University
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    This year’s top tech stories

    From ChatGPT to robots and contech funding, here are the topics that were most popular with our readers.

    By • Dec. 20, 2023
  • Rendering of Northwestern Mutual's $500 million downtown Milwaukee office
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    Courtesy of Northwestern Mutual
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    The biggest office starts of 2023

    While owner financing is likely driving some deals on glittering new headquarters, quickly maturing loans on existing properties signal challenges ahead.

    By • Dec. 20, 2023
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    Courtesy of Gateway Program
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    Top infrastructure stories of 2023

    From airport expansions and dam removals to federal funding and legal wranglings, here are the articles that were most popular with our readers.

    By Julie Strupp • Dec. 19, 2023
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    Opinion // Business Matters

    5 tactics to tell — and sell — your firm’s story

    Once you know what you want to say to potential clients, decide how best to present it.

    By Chemene Phillips • Dec. 14, 2023
  • A man in a suit and an orange safety vest uses a tablet on a construction site. The user is in the foreground and clear, the background is blurred.
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    Contech Funding

    4 contech firms, $60M in funding

    Amid a challenging venture capital environment and the struggles of their larger peers, contech startups continue to find fundraising success.

    By • Dec. 13, 2023
  • Funded By The Bipartisan Infrastructure Law
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    John Moore/Getty Images via Getty Images
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    Economic Reports

    Infrastructure nudges backlog higher as other sectors struggle

    A growing number of contractors face difficulties in securing new work, according to Associated Builders and Contractors.

    By • Dec. 13, 2023
  • A skeleton steel frame of an industrial construction project rises against the sky.
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    Minneapolis Fed sees pain in residential, commercial construction

    A survey by the bank highlighted the divide between hard-hit private projects and booming industrial and infrastructure markets.

    By • Dec. 11, 2023
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    Tom Shaw via Getty Images
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    Balfour Beatty backlog, revenue inch up in year-end update

    The company expects marginal gains driven by its work on Phase 1 of Britain’s HS2 rail project and increased airport construction activity in Hong Kong.

    By • Dec. 11, 2023
  • Wind turbine towers sit under construction at CS Wind on November 29, 2023 in Pueblo, Colorado.
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    Michael Ciaglo/Getty Images via Getty Images
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    Economic Reports

    Construction spending inches higher

    Manufacturing and infrastructure investments fueled a 0.1% uptick in October, but warehouse and distribution center outlays tumbled.

    By • Dec. 1, 2023
  • Rendering of Mutual of Omaha's $600 million tower in downtown Omaha, Nebraska
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    Courtesy of Mutual of Omaha
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    Office construction may never return to pre-pandemic levels

    Despite some massive office towers breaking ground, Dodge Chief Economist Richard Branch expects starts in the sector to continue to tumble.

    By • Nov. 28, 2023
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    Profits fall for many public firms, partly due to inflation

    Amid soaring costs, several construction industry giants reported lower gains in recent earnings reports.

    By Construction Dive Staff • Nov. 28, 2023
  • A Connecticut Department of Transportation crew goes to work on a southbound Interstate 95 bridge on November 05, 2023 in Westport, Connecticut
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    John Moore/Getty Images via Getty Images
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    Economic Reports

    Construction starts drop 7%, marking second consecutive loss

    Despite three megaprojects kicking off, high interest rates and tight credit restrained activity last month.

    By • Nov. 22, 2023
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    Opinion // Business Matters

    3 steps to a profitable exit strategy

    To make the most money when it’s time to sell, owners need to focus on building value in their firms, writes construction consultant Matt Verderamo.

    By Matt Verderamo • Nov. 21, 2023
  • President Joe Biden, dressed in a dark suit with white hair, stands behind a podium in front of a brick tunnel and train.
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    Infrastructure act

    2 years in, infrastructure law has funded 40,000 projects

    The White House said construction employment has also risen as a result of the influx in federal money.

    By Julie Strupp • Nov. 16, 2023
  • An overhead shot of a port with several docks for large ships. The water is an azure-y green.
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    Courtesy of McCarthy
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    McCarthy completes $92M Texas port project

    The St. Louis builder finished Port Houston’s Bayport Wharf 6 in 26 months on an accelerated timeline.

    By • Nov. 15, 2023
  • A man in a suit and an orange safety vest uses a tablet on a construction site. The user is in the foreground and clear, the background is blurred.
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    Contech surpasses $30B in total venture funding

    More construction technology providers will reach unicorn status even as venture capital slows in other sectors, according to an investment firm focused on the industry.

    By • Nov. 15, 2023
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    AECOM’s profits plunge on higher revenue, backlog

    CEO Troy Rudd said the strong U.S. dollar, which erodes the value of international contracts paid with foreign currency, impacted results.

    By Julie Strupp • Nov. 15, 2023
  • Funded By The Bipartisan Infrastructure Law, Sections Of The I-95 Northeast Corridor Are Reconstructed
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    John Moore/Getty Images via Getty Images
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    Economic Reports

    Construction input prices fall amid declining inflation

    The 1.2% drop in materials costs in October “should be cheered by most contractors,” said Anirban Basu, ABC chief economist.

    By • Nov. 15, 2023
  • As seen from an aerial view Connecticut Department of Transportation crews reconstruct a southbound Interstate 95 bridge on November 05, 2023 in Westport, Connecticut.
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    John Moore/Getty Images via Getty Images
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    Economic Reports

    Backlog drops to lowest level since Q1 2022

    “Many smaller contractors are feeling the sting of weaker economic fundamentals in struggling commercial real estate segments,” said Anirban Basu, ABC chief economist.

    By • Nov. 14, 2023
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    Permission granted by Texas Instruments
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    Deep Dive

    US manufacturing boom unlocks ‘once-in-a-lifetime’ opportunity for contractors

    Here are ways construction firms can cash in on the country’s $500 billion onshoring surge and the ancillary projects it is spurring. 

    By • Nov. 14, 2023
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    WSP’s profit, revenue, backlog up in Q3

    The Montreal-based firm sees a positive outlook for its green transition work and reaffirmed the guidance that it raised last quarter.

    By Julie Strupp • Nov. 9, 2023
  • A signage of Microsoft is seen on March 13, 2020 in New York City.
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    Jeenah Moon via Getty Images
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    Microsoft-backed study shows AI investments producing returns

    For every $1 companies invest in AI, they are realizing an average of $3.50 in return, the report says.

    By Alexei Alexis • Nov. 8, 2023
  • As seen from an aerial view Connecticut Department of Transportation crews reconstruct a southbound Interstate 95 bridge on November 05, 2023 in Westport, Connecticut.
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    John Moore/Getty Images via Getty Images
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    Economic Reports

    Warehouse surge drives construction planning higher

    A total of 21 projects valued at $100 million or more entered the planning stages in October, including a $215 million Google data center, according to Dodge.

    By • Nov. 7, 2023