Economy: Page 20

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    Diesel’s big price jump puts pressure on contractors

    The quadrupling of the fuel's price has both caused and been exacerbated by supply-side kinks as project costs climb.

    By • Updated Nov. 30, 2022
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    ABI breaks bad in October

    Design work on architects' boards slowed considerably after nearly two years of growth. 

    By • Nov. 22, 2022
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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
  • construction at The Boro in Tysons, VA
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    U.S. will ‘narrowly avoid recession’: Goldman Sachs

    The Fed will slow the pace of tightening next month and early next year but won’t cut the federal funds rate until Q2 2024, Goldman Sachs predicted.

    By Jim Tyson • Nov. 21, 2022
  • Rendering of Texas Instruments semiconductor plant in Sherman, Texas
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    Courtesy of Texas Instruments
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    Total construction starts jump 8% following 2-month decline

    Nonresidential and nonbuilding starts led the increase, while residential starts tumbled, according to the Dodge Construction Network report.

    By • Nov. 17, 2022
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    Construction input prices creep higher

    Despite the climb in nonresidential input costs, most materials saw month-to-month decreases, per an Associated Builders and Contractors analysis.

    By • Nov. 17, 2022
  • construction at The Boro in Tysons, VA
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    Backlog falls below pre-pandemic level, optimism lingers

    Backlog in the commercial and institutional category posted its largest monthly decline since July 2020, according to Associated Builders and Contractors.

    By • Nov. 15, 2022
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    AECOM beats on earnings, misses on revenue

    The firm's CEO said slower-than-expected IIJA funding has pushed back the timeline of infrastructure construction projects.

    By • Nov. 15, 2022
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    Construction’s supply chain outlook: more shortages, price hikes ahead

    Analysts and contractors break down prices and lead times for concrete, cement, steel, lumber, insulation, drywall and HVAC equipment in the coming year.

    By • Nov. 14, 2022
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    WSP posts rosy Q3 revenue and backlog, increases guidance

    The Montreal-based mega contractor also reported massive workforce growth in the past year, due in large part to its acquisition spree.

    By Julie Strupp • Nov. 10, 2022
  • Slinger in helmet and vest controls unloading of metal structures on construction site.
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    CRE developers reveal their biggest challenges for 2023

    “If you’re in real estate, you are in a recession,” said the author of a new study looking at the main drivers of anxiety among owners.

    By • Nov. 10, 2022
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    Late payments cost construction industry $208B in 2022: report

    Amidst a turbulent economic climate, delayed payments are leading to project holdups and work stoppages, according to respondents of a new survey.

    By • Nov. 10, 2022
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    Top 10 causes of construction claims

    Firms need to turn to technology to help avoid issues like scope changes and incomplete design, according to a new report.

    By • Nov. 2, 2022
  • ABC Construction at The Boro on Thursday, June 28 in Tysons, VA.
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    Investment in structures tumbles in Q3

    Real nonresidential investment posted its steepest decline since the second quarter of 2020, even as the U.S. economy expands, according to an Associated Builders and Contractors report.

    By • Nov. 1, 2022
  • An overhead view of waterfront offshore wind turbine construction.
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    Courtesy of Skanska USA
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    Skanska profits dip as backlog rises

    Amid economic uncertainties, CEO Anders Danielsson said commercial construction work and bookings remain strong.

    By • Oct. 31, 2022
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    Why you can no longer afford to make late payments

    In a pay-when-paid industry like construction, late payments are often the rule, not the exception. The lower down the chain you are, the longer it takes to get paid—and the more these late payments can hurt financial stability and cashflow.

    Oct. 31, 2022
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    Courtesy of Granite Construction
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    Granite Construction’s profits flat, revenue falls in Q3

    The Watsonville, California-based contractor nonetheless raised its guidance, and expects a stronger 2023 as it burns the last of its less profitable projects and snags IIJA work.

    By Julie Strupp • Oct. 28, 2022
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    Q&A

    Use tech to combat ‘Neanderthal’ thinking in construction

    Industry guru Barry LePatner talks about the uniqueness of today’s economic challenges, and giving young pros the technology they need to solve them.

    By • Oct. 26, 2022
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    Drew Angerer via Getty Images
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    NYC construction spending reaches all-time high of $86B

    The New York Building Congress’ strong outlook for the city’s building industry could be hampered by a lack of tax incentives for multifamily projects and other headwinds, per its report.

    By • Oct. 25, 2022
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    Should construction companies file for the employee retention credit?

    If your business continued to pay full payroll tax amounts during the pandemic, you now may be entitled to hundreds of thousands of dollars from the IRS through the ERC.

    Oct. 24, 2022
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    Officials approve new Las Vegas Strip resort

    Developers continue to plan massive projects in Sin City, like billionaire Tilman Fertitta’s casino resort, despite warnings of a slowdown.

    By • Oct. 20, 2022
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    Justin Sullivan via Getty Images
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    Construction input prices fall slightly

    Though the drop in materials costs is welcome, with overall wholesale prices rising at twice the rate analysts expected, the Federal Reserve has more evidence to support another round of interest rate hikes.  

    By • Oct. 13, 2022
  • Rivet II is the second building of a four-phase redevelopment project headed by New Jersey City University.
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    Courtesy of Arc Building Partners
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    Q&A

    Construction management firm CEO: recession ‘feels like a self-fulfilling prophecy’

    Construction Dive talks with Frank Ciminelli, president and CEO of Buffalo, New York-based Arc Building Partners, about the pandemic, a potential recession and other challenges in the industry.

    By • Oct. 11, 2022
  • Turner Construction
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    Turner: Labor shortage prompts contractors to be selective about jobs

    Builders are turning to megaprojects to get the most out of their skilled workforce, according to a recent report from the country’s largest contractor.

    By • Oct. 11, 2022
  • Workers set up scaffolding at the construction site of a new apartment building.
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    Contractors added to backlogs in September, expect higher profits

    Associated Builders and Contractors’ Backlog Indicator and Construction Confidence Index rose in September, though outlooks for overall sales remained lower than August and last year. 

    By • Oct. 11, 2022
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    Why September’s hot jobs report is ‘terrible’ for construction

    Surging employment, led by a rise in nonresidential workers and combined with slowing proposal activity, gave market watchers reason to be wary of the road ahead. 

    By • Oct. 10, 2022