Economy: Page 5

  • Aerial view of the Northern Virginia Gateway Data Center site in Fredericksburg, Virginia.
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    Courtesy of Northern Virginia Gateway Data Center
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    Economic Reports

    Construction planning posts largest drop since March

    Commercial and institutional activity are likely to continue to be constrained for the rest of 2023, as evidenced by a key index’s sixth straight decline.

    By • Sept. 11, 2023
  • Rendering of Entek's $1.5 billion manufacturing facility in Terre Haute, Indiana
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    Courtesy of Clayco
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    Project Milestones

    Clayco breaks ground on $1.5B Indiana manufacturing plant

    The Chicago-based general contractor will self-perform the concrete foundations, flatwork, tilt-up wall panels and concrete paving on the lithium-ion battery separator materials hub.

    By • Sept. 6, 2023
  • Construction site Explore the Trendline➔
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    sandsun via Getty Images
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    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
  • A construction worker walks through the Stamford Transportation Center on August 28, 2023 in Stamford, Connecticut.
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    John Moore/Getty Images via Getty Images
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    Economic Reports

    Construction spending growth looks ‘solid going forward’

    Strong nonresidential hiring numbers and several massive projects in development signal more investment ahead, according to ABC’s chief economist.

    By • Sept. 5, 2023
  • Aerial view of the QScale data center in Quebec, Canada
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    Courtesy of QScale
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    Q&A

    Data center construction rides AI wave: CBRE director

    Rapid growth in artificial intelligence is fueling data center demand.

    By • Aug. 22, 2023
  • A rendering of a tall office building made of grey stone with a blue sky in the background, and a parking area in the foreground.
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    Courtesy of U.S. Army Corps of Engineers, Baltimore Division
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    Balfour Beatty profits dip on weak US office, tech sectors

    The London-based contractor said its recently strong business stateside stumbled.

    By • Aug. 18, 2023
  • A rendering of a large liquefied natural gas plant that spreads along a riverbed. Two ships are docked in the left side of the photo at the docks.
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    Permission granted by Bechtel
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    Economic Reports

    $12B LNG project props up construction starts in July

    Higher interest rates, labor shortages and increased material prices continue to impact the sector, said Dodge Construction Network’s chief economist.

    By • Aug. 17, 2023
  • A construction worker sprays water in his face
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    Anna Moneymaker/Getty Images via Getty Images
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    Economic Reports

    Commercial, institutional projects boost construction backlog

    Contractors are signaling that demand for their services will continue to expand despite high interest rates and regional bank failures, said Anirban Basu, ABC chief economist.

    By • Aug. 16, 2023
  • Aerial view of the new computer chip factory that's being built by The Taiwan Semiconductor Manufacturing Company in Arizona on the North side of Phoenix.
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    Skyhobo via Getty Images
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    Deep Dive

    Manufacturing megaprojects gobble up workers

    From Taylor, Texas, to Licking County, Ohio, multibillion-dollar factory projects are magnifying labor woes and driving up costs.

    By • Aug. 14, 2023
  • Picture of a construction worker in Tucson, Arizona, on a Sunday Construction jobsite
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    Courtesy of Associated General Contractors of America
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    Economic Reports

    Construction materials prices unchanged, signaling ‘stable’ costs ahead

    Relatively flat materials figures in recent months indicate contractors are finally experiencing relief from supply chain woes and price volatility, according to a new report.

    By • Aug. 11, 2023
  • A street sign for Wall Street in front of the facade of the New York Stock Exchange.
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    JaysonPhotography via Getty Images
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    WSP profit, revenue, backlog jump

    CEO and President Alexandre L’Heureux said the company’s second quarter performance surpassed expectations, despite inflation and labor challenges.

    By • Aug. 10, 2023
  • Rendering shows building with glass-paned walls and a white roof surrounded by airplanes.
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    Courtesy of Port of Seattle
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    AECOM reports Q3 loss despite higher revenue

    The CEO of the Dallas-based firm said inflation has increased costs for delivering infrastructure projects, but prices are beginning to stabilize.

    By • Aug. 9, 2023
  • Rendering of the $400 million Kraft Heinz distribution center in DeKalb, Illinois.
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    Courtesy of Kraft Heinz
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    Economic Reports

    Construction planning drops for fifth month on interest rates, lending issues

    Weaker commercial activity will counter more robust institutional ambitions for the rest of 2023, said Sarah Martin, associate director of forecasting for Dodge Construction Network.

    By • Aug. 8, 2023
  • A rendering shows the redesigned Brent Spence Bridge and companion crossing in Cincinnati.
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    Courtesy of Walsh Construction
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    Project Wins

    Ohio, Kentucky tap Walsh Kokosing JV for $3.6B Brent Spence Bridge project

    Jacobs and AECOM will pitch in with design and engineering on the endeavor, which has become a symbol of the country’s infrastructure push.

    By • Aug. 7, 2023
  • Construction of Vogtle Nuclear Plant Unit 4
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    Courtesy of Bechtel
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    Project Milestones

    $30B Bechtel-built nuclear plant starts operation in Georgia

    The contractor took over work in 2017 to complete the first new atomic power unit built in the U.S. in more than 30 years.

    By • Aug. 3, 2023
  • A man works in the sun at a construction site during a heat wave on July 27, 2023 in the Brooklyn borough of New York City.
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    Spencer Platt/Getty Images via Getty Images
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    Economic Reports

    Private projects stall even as public construction spending jumps

    Although infrastructure dollars are flowing, “private developer-driven activity appears to be drying up,” said ABC’s chief economist.

    By • Aug. 2, 2023
  • Cement bags are on display at a construction warehouse.
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    johny007pan/iStock/Getty Images Plus via Getty Images
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    Economic Reports

    Turner’s cost index continues to rise

    Though improving supply chains have helped ease the pace of increases, labor rates pressure contractors.

    By • July 31, 2023
  • Building and construction cranes silhouetted against a yellow orange sky.
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    goncharovaia via Getty Images
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    Economic Reports

    Recessionary conditions likely in next year

    Weakening global and national economies, mixed with high borrowing costs and excess inflation, are poking holes in construction’s outlook, said Associated Builders and Contractors’ chief economist.

    By • July 27, 2023
  • Picture of construction crane on cloudy sky.
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    photosvit via Getty Images
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    Q&A

    Spending likely to slump in rest of year

    AIA Chief Economist Kermit Baker talked about private construction activity, nonresidential spending and financial headwinds.

    By • July 25, 2023
  • A rendering of the interior of the Buffalo Bills stadium, showing stands and the field.
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    Retrieved from Buffalo Bills on January 25, 2023
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    Economic Reports

    Construction starts continue volatile ride, ‘up one month and down the next’

    Choppy conditions will persist due to high interest rates and tightening lending standards, said Richard Branch, chief economist for Dodge Construction Network.

    By • July 24, 2023
  • A rendering of an airport loop and a parking garage.
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    Permission granted by Skanska
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    Skanska reports record backlog, Q2 profit drop

    On the back of infrastructure jobs, Skanska has added to its contracted work even as it weathers a weaker leasing market.

    By • July 21, 2023
  • Walkway leading along the new colorful cmplex of apartment buildings, Gdansk, Poland
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    ewg3D via Getty Images
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    Rent growth drops to lowest non-pandemic rate since 2011

    Asking rents are still on the rise, both for conventional multifamily and for single-family build-to-rent properties, according to a new report.

    By Mary Salmonsen • July 21, 2023
  • A helicopter carrying a water basket flies past a smoke plume near Lebel-sur-Quevillon, Quebec.
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    Adrian Wyld/The Canadian Press/AP

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    Canadian wildfires raised air pollution. Lumber prices could be next.

    Historic fires are blazing through the provinces of Alberta and Quebec, dealing a blow to the country’s softwood lumber production.

    By • July 17, 2023
  • A construction worker ushers traffic on July 11, 2023 in Austin, Texas.
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    Brandon Bell/Getty Images via Getty Images
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    Economic Reports

    Inflation cools, but material prices remain high

    Despite easing conditions, headwinds still hamper construction activity, according to a new report.

    By • July 14, 2023
  • Two workers in hardhats look at blueprints in an office.
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    mihailomilovanovic via Getty Images
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    ABC members pour $1.5B into upskilling

    2022 continued an investment trend in training and education, but the employer group said there’s more work to be done.

    By • July 14, 2023
  • A stack of concrete pipe.
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    Kwanchai_Khammuean via Getty Images
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    Readers Respond: How contractors deal with sticker shock

    Respondents to a recent Construction Dive survey said they are combating the high price of building materials with a variety of tactics.

    By • July 14, 2023