Economy: Page 24

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    DOE extends $2.5B loan to build 3 EV battery factories

    The loan would aid construction of new facilities in Ohio, Tennessee and Michigan.

    By • Aug. 1, 2022
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    Courtesy of Granite Construction
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    Granite’s Q2 profit, revenue dip as company continues strategic shift

    The Watsonville, California-based civil contractor said the infrastructure act remains a bright spot ahead as it battles labor woes and works through less profitable projects.

    By Julie Strupp • July 29, 2022
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    Trendline

    Labor

    A roundup of articles about issues affecting the workforce.

    By Construction Dive staff
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    Justin Sullivan via Getty Images
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    CHIPS Act passes House, secures $52B for semiconductor industry

    Several massive manufacturing-related construction projects are depending on the act in order to move forward.

    By , • July 28, 2022
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    Top 10 US metros for construction starts

    The value of the commercial and multifamily sectors rose in top metro areas in the first half of 2022, per a new report.

    By Julie Strupp • July 28, 2022
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    Dodge economist: Recession may be 'fairly short'

    A new report acknowledges tumultuous market conditions but highlights infrastructure spending and an emphasis on broadband as strong points.

    By • July 26, 2022
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    Nonresidential construction starts fall 14%; ABI outlook cloudy

    As recession fears spread, the industry logged a slowdown in commercial, manufacturing and institutional activity last month, while architects’ billings grew at a slower pace. 

    By • July 21, 2022
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    Federal Reserve report signals slowing construction demand

    The Fed’s Beige Book, an anecdotal gauge of business activity, saw moderating commodity prices, fewer building permits and even lower construction staffing needs.

    By • July 19, 2022
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    Peak pricing? June's PPI shows signs of relief for construction materials.

    While nonresidential construction materials costs climbed higher again in June, softening commodity prices may signal the beginning of the end of nonstop escalation.

    By • July 15, 2022
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    John Moore via Getty Images
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    Construction contractor outlook darkens as profit expectations, backlog fall

    The Associated Builders and Contractors’ confidence index was down for the fourth consecutive month, while backlog dropped slightly and expectations for profits fell into negative territory. 

    By • July 13, 2022
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    Infrastructure act

    What contractors need to know about IIJA’s construction tech carve-outs

    Two programs funnel federal dollars to advance the use of technology in construction, but there are key differences, experts said.

    By • July 13, 2022
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    $550M hotel-casino latest in Las Vegas entertainment push

    The project is expected to generate significant tax revenue and create about 4,000 new direct and indirect construction jobs.

    By • July 12, 2022
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    Spencer Platt via Getty Images
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    Gilbane sees slivers of hope for material, supply chain woes

    The No. 11 contractor expressed measured optimism for 2022’s second half due to improving lead times and better steel, lumber and copper prices. 

    By • July 12, 2022
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    Construction workers work on an infrastructure project. via Getty Images
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    Why June's upbeat jobs report isn't necessarily positive for construction

    More workers on the job mean fewer job seekers available to fill the 466,000 open positions in the building industries — the largest gap on record. 

    By • July 11, 2022
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    Justin Sullivan via Getty Images
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    San Francisco ranked the world's most expensive city for construction

    The city overtakes Tokyo as inflation and supply chain snarls affect markets across the globe.

    By • July 8, 2022
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    Construction's labor, economic numbers begin to show cracks

    As talk of a recession continues, a slower pace in spending and job openings is beginning to emerge from several key indicators, even as wage projections continue to rise.

    By • July 7, 2022
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    Fed inflation fight 'highly likely to involve some pain': Powell

    The Federal Reserve chair committed the agency to hitting its 2% inflation target as rising prices undermined consumer expectations and increased the odds of a recession.

    By Jim Tyson • June 30, 2022
  • A rendering in a field of former farmland for the new Intel semiconductor fab in Licking County, Ohio
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    Courtesy of Intel
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    Chip manufacturers press for federal funding as bill flails in Congress

    Intel delayed the groundbreaking ceremony on its Ohio facility, pointing to legislative inaction on the $52 billion CHIPS Act. 

    By • June 29, 2022
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    Rising labor costs eat away at construction firms' profits

    Contractors are paying more for low-skilled workers but aren’t benefiting from increased productivity, economists say.

    By • June 23, 2022
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    What recession? Developers bet on Vegas instead.

    Demand for entertainment projects in Las Vegas remains strong despite economic headwinds and signs of cratering consumer confidence.

    By • June 23, 2022
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    Recession watch: ABC economist sees 'difficult times' through 2025

    Associated Builders and Contractors' Anirban Basu said the Federal Reserve’s monetary policy to fight inflation will likely tip the economy into recession.

    By • June 16, 2022
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    Why construction stocks are like honey for the bear market

    Construction companies could become Wall Street’s darlings, armed with strong backlogs and robust infrastructure funding.

    By • June 15, 2022
  • A render of the finished product in Sherman, a new semiconductor fabricator plant that Texas Instruments plans to open.
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    Courtesy of Texas Instruments
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    Amid domestic semiconductor wave, Texas Instruments begins $30B build

    The manufacturing facility, which broke ground in Sherman, Texas, follows a trend of similar investments in the U.S.

    By • June 14, 2022
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    How construction starts fare by US region

    Analysts forecast how activity in the West, Midwest, Northeast and South will rebound from the pandemic.

    June 14, 2022
  • People congregate outside of the LDJ5 Amazon Sort Center on April 25, 2022 in New York City.
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    Why Amazon's warehouse pullback is good news for contractors

    The e-commerce giant has slowed its building spree, freeing up hard-to-find materials and land for other projects in the booming sector.

    By • June 13, 2022
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    High pay attracts workers, but construction's employment gap widens

    To entice more workers into the industry, contractors will likely have to further elevate wages, AGC Chief Economist Ken Simonson said.

    By • June 9, 2022