Economy: Page 2
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Sponsored by Merchants Bonding Company
The snowball effect
Contractors' cash crunch problems are snowballing into other issues – what’s driving the trend?
By Jay Farley, Vice President - Claims, Merchants Bonding Company • Sept. 9, 2024 -
Tax compliance costs surge 32% since 2017: Tax Foundation
Efforts to simplify the federal tax code have failed to reverse decades of regulatory and legislative changes that have made it more complex.
By Jim Tyson • Sept. 6, 2024 -
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 -
Job openings drop again, but commercial builders still seek workers
Despite a 17% fall in unfilled positions in July, economists say nonresidential contractors are looking to hire craftworkers.
By Zachary Phillips • Sept. 5, 2024 -
Opinion // Business Matters
How to maintain a steady backlog
Measuring future work is one way to help it grow, according to consultant Matt Verderamo.
By Matt Verderamo • Sept. 5, 2024 -
Economic Reports
Construction spending dips again as contractors await Fed relief
Fluctuations in recent months stem from a worsening shortage of qualified workers, according to AGC’s chief economist.
By Sebastian Obando • Sept. 3, 2024 -
Apartment starts increase monthly, but fall YOY
Meanwhile, multifamily completions jumped 50% from last July and the number of units under construction dropped.
By Leslie Shaver • Aug. 27, 2024 -
Economic Reports
The 9 largest commercial construction starts of July 2024
Total groundbreakings for the month jumped 10% ahead of the Fed’s likely rate cut, according to Dodge Construction Network.
By Sebastian Obando • Aug. 26, 2024 -
Lendlease reports $1B loss as it sells off US work
The Australian company is moving away from international projects with a plan to deploy funds from divesting into successful sectors at home.
By Zachary Phillips • Aug. 20, 2024 -
‘Momentum’ the word of the day for Balfour Beatty
The London-based builder reversed its decline in pre-tax profit and signaled that it is eyeing big opportunities in U.K. and U.S. markets.
By Matthew Thibault • Aug. 16, 2024 -
Economic Reports
Rising energy costs drive up construction inputs
Following two consecutive months of relief, price hikes in petroleum and natural gas pushed costs higher for the first time since April.
By Sebastian Obando • Aug. 15, 2024 -
Economic Reports
Construction backlog stagnates, squeezing smaller contractors
Only the country’s largest contractors have a longer backlog than they did last year, according to Associated Builders and Contractors.
By Sebastian Obando • Aug. 13, 2024 -
Economic Reports
Owners push more projects into planning
Driven by expectations of an imminent interest rate cut, momentum is building across many major sectors, according to Dodge Construction Network.
By Sebastian Obando • Aug. 9, 2024 -
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 -
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 -
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 Sebastian Obando • Aug. 1, 2024 -
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 -
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 Matthew Thibault • July 30, 2024 -
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 Zachary Phillips • Updated July 23, 2024 -
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 -
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 Sebastian Obando • July 15, 2024 -
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 Sebastian Obando • July 12, 2024 -
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 Sebastian Obando • July 10, 2024 -
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 Joe Bousquin • July 2, 2024 -
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 -
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