Economy: Page 21

  • Fluor worker
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    Courtesy of Fluor
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    September 2022 Project Wins: The country’s top contractors report their latest awards

    Construction Dive rounds up the newest project wins from some of the country’s biggest builders.

    By Construction Dive Staff • Oct. 6, 2022
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    Courtesy of Associated Builders and Contractors
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    Construction spending dips, but contractors remain optimistic

    The rising costs of both financing and construction services put a dent in nonresidential outlays.

    By • Oct. 4, 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
  • A person with a blue construction hat and a blue clipboard in the left arm shakes hand with a person offscreen.
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    iStock.com/skynesher

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    Sponsored by American Express

    American Express equips construction businesses with tools to help maximize growth

    Now is the time for construction business owners to ensure they have the right financial solutions in their toolbox.

    Oct. 3, 2022
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    Danielle Ternes/Construction Dive
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    Column

    The Dotted Line: Cost escalations lead to more disputes

    Construction attorneys say price increases for labor and materials are causing friction between GCs, subs and owners.

    By • Sept. 27, 2022
  • U.S. economy contracted for second consecutive quarter
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    US faces risk of long stagflation struggle: Moody’s

    Rising materials costs could harm construction and manufacturing companies, according to Moody’s Analytics.

    By Jim Tyson • Sept. 27, 2022
  • A construction crew drills a water well.
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    Courtesy of Granite Construction
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    Granite nixes plans to sell water, mineral units

    Kyle Larkin, the firm’s president and CEO, said “current market conditions” meant the firm couldn’t get the price it wanted for the businesses.

    By • Sept. 20, 2022
  • A picture shows a completed Sacred Heart Schools building in Atherton, California.
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    Courtesy of XL Construction
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    Q&A

    XL Construction’s Chris Bailey talks inflation, supply chain and the need for immigration reform

    After correctly predicting that higher costs and supply chain impacts weren’t temporary in early 2021, the California-based contractor gives his views on the biggest challenges facing the sector now.

    By • Sept. 19, 2022
  • Lumber supplies sit on shelves in a construction supply store.
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    Getty Images
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    Construction input prices fall for second straight month

    The costs for building a commercial project declined 1.4% in August, following a similar decline in July, but were still up 16.7% from a year ago. 

    By • Sept. 15, 2022
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    White House details how CHIPS money will be spent

    The Department of Commerce’s CHIPS for America fund will invest $50 billion to revitalize the domestic semiconductor industry, protect national and economic security and create jobs.

    By • Sept. 15, 2022
  • An overhead shot shows a large commercial construction project.
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    Armed with steady backlogs, nonresidential construction pros shrug off recession fears

    Commercial contractor confidence rose in August — a stark contrast to the homebuilding market, which is already in a recession.

    By • Sept. 13, 2022
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    Justin Sullivan via Getty Images
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    Railroads prepare for nationwide strike

    A major rail stoppage could add to construction’s supply chain woes, according to a new report.

    By • Sept. 13, 2022
  • Two engineers look over plans at a construction site.
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    Construction planning numbers fall

    For the year, the Dodge Momentum Index was still broadly positive, but the impacts of inflation and fear of a recession are starting to emerge.  

    By • Sept. 8, 2022
  • Construction workers perform jobs at a large building project.
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    Q&A

    Construction accountant on IIJA funds, inflation and CHIPS Act’s $500B potential

    Erin Roberts, head of Ernst and Young's global construction and engineering practice, talked with Construction Dive about the additional boost private funding will give government programs.

    By • Sept. 6, 2022
  • A construction worker sits alone at a jobsite.
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    Getty Images
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    Construction unemployment rose in August, and that’s good news for contractors

    The sector’s overheated jobs market is beginning to cool, while average construction wages rose to nearly $35 per hour.

    By • Sept. 2, 2022
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    Public projects keep nonresidential construction spending positive, overall sector falls

    Total construction spending fell 0.4% in July, but highway and public safety jobs, funded by public dollars, kept non-housing-related spending in the black.

    By • Sept. 2, 2022
  • Construction workers complete tasks on a jobsite.
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    Courtesy of Associated Builders and Contractors
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    Construction job openings spike higher

    After dipping in June, unfilled positions in the sector soared 11.3% last month from a year ago, increasing chances of more interest rate hikes ahead.

    By • Aug. 30, 2022
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    6 tips for defanging inflation

    These strategies can help blunt the effects of rising price pressures, according to a new report from Deloitte.

    By Jim Tyson • Aug. 30, 2022
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    Spencer Platt via Getty Images
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    Public firms report lower profits, muted outlooks

    Several construction industry giants saw profits fall and lowered their outlooks for the remainder of the year amid continued impacts from COVID-19 and inflation. 

    By • Aug. 26, 2022
  • The grey, nearly rectangular FieldPrinter robot rests on a concrete floor with a cityscape in the background.
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    Courtesy of Dusty Robotics
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    Global construction robot market value to triple by 2030

    Leaders in the space include Apis Cor and Dusty Robotics, according to a new report.

    By • Aug. 24, 2022
  • A construction worker in a reflective vest wipes his face as he shelters under a tree, while construction machinery and other workers stand in the background.
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    Eric Kayne via Getty Images
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    Fed unlikely to avoid recession: economists

    Almost 50% of economists believe a downturn will begin by the first quarter of 2023, according to a new survey.

    By Jim Tyson • Aug. 23, 2022
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    Getty Images
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    Chicago, Milwaukee top Mortenson’s construction costs list

    Of the seven cities surveyed in the firm’s Q2 cost index, prices rose the most in traditionally affordable markets.

    By • Aug. 18, 2022
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    Eduardo Munoz Alvarez/stringer via Getty Images
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    The most recession-proof sectors for construction

    Contractors’ safest bet remains federally funded work, while private jobs could dry up during a downturn, experts say.

    By • Aug. 18, 2022
  • A render of several buildings in the foreground, including tracks for automated transportation, while a tall tower is in the background.
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    Courtesy of Balfour Beatty
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    Balfour Beatty reports higher profits on flat revenues

    The London-based contractor increased its backlog and is bullish on the U.S. infrastructure market as a result of the $1.2 trillion IIJA.

    By • Aug. 18, 2022
  • $2.9 billion BlueOval SK Battery Park Ford plant in Glendale, KY
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    Courtesy of Ford
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    Dodge: Total construction starts surge 48% in July

    The strong jump in starts could slow down by the end of the year, particularly if the Federal Reserve continues to hike up interest rates, said Richard Branch, chief economist at Dodge.

    By • Aug. 16, 2022
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    Joe Raedle via Getty Images
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    What a recession would look like for construction

    Industry experts list eight steps builders can take in order to prepare their businesses for an economic downturn.

    By • Aug. 16, 2022