Economy: Page 7
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Economic ReportsConstruction spending slips but 1 sector shines
The largest private segment — manufacturing construction — has jumped more than 17% over the past 12 months, according to new federal data.
By Sebastian Obando • June 4, 2024 -
Courtesy of UC Davis Health
The largest commercial construction starts of April 2024
The $3.7 billion UC Davis Medical Center in Sacramento, California, and the $1.8 billion Linde Blue Hydrogen plant in Beaumont, Texas, ranked as the top two projects to get underway last month.
By Sebastian Obando • May 28, 2024 -
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Inflation cools, reassuring Fed after unexpectedly hot gains
The yield on the benchmark 10-year Treasury note fell on investor speculation that slower inflation will prompt the Fed to sooner cut borrowing costs.
By Jim Tyson • May 16, 2024 -
Courtesy of Meta
5 contech firms announce funding in 2024’s first half
Drone-powered roof inspections, cloud-based estimating solutions and fungi-fueled recycling tech earned venture capital in recent months.
By Matthew Thibault • May 15, 2024 -
Mario Tama/Getty Images via Getty Images
Economic ReportsAs backlog rises, so does contractors’ confidence
New work increased 2.4% last month, but only time will tell if construction optimism is justified in the face of fresh headwinds, said ABC’s chief economist.
By Sebastian Obando • May 15, 2024 -
Ethan Miller/Getty Images via Getty Images
Economic ReportsConstruction input prices jump again, continue 2024’s upward climb
A new ABC report points to yet another sign that inflation is accelerating and that interest rates are set to stay higher for longer.
By Sebastian Obando • May 15, 2024 -
Sean Pavone via Getty Images
Deep DiveContractors, owners wait out high interest rates
As long as the Fed doesn't raise already elevated rates, a steady environment could jump-start stalled projects.
By Sebastian Obando • May 14, 2024 -
Courtesy of City of Detroit
Abandonments tick down, but more builds are being mothballed
For public projects specifically, the abandonment reading is now lower than at any time since late January, according to ConstructConnect data.
By Sebastian Obando • May 10, 2024 -
Courtesy of Meta
Economic ReportsData centers boom again, boost construction planning
A flood of these megprojects entered the planning queue, reversing a two-month streak of contraction, according to the Dodge Construction Network.
By Sebastian Obando • May 8, 2024 -
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Data centers are next target for MasTec, CEO says
While the specialty energy contractor reported a loss for its latest quarter, CEO José Mas said it will bid on $1 billion worth of work for the computing facilities going forward.
By Matthew Thibault • May 8, 2024 -
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Economic ReportsOpen construction jobs plunge 40%, but economists question data
The massive drop may be a statistical anomaly due to construction's scheduling and hiring patterns.
By Zachary Phillips • May 2, 2024 -
Ethan Miller/Getty Images via Getty Images
Economic ReportsPublic sector lifts nonresidential construction spending as private projects lag
While the two sides of the industry are going in opposite directions, overall nonresidential outlays have outpaced inflation since the start of the pandemic, an economist said.
By Sebastian Obando • May 1, 2024 -
Courtesy of Rady Children’s Hospital-San Diego
Construction starts dip for second straight month
High rates, inflation and restrictive credit suppressed building activity in March, according to Dodge Construction Network.
By Sebastian Obando • April 29, 2024 -
Maudib via Getty Images
Apartment starts fall more than 43%
Completions rose 4.6% as developers added more than 500,000 units in March.
By Leslie Shaver • April 25, 2024 -
Sean Gallup via Getty Images
Contech investment up 20% in Q1
Investors pumped $672 million into the space through March, a significant jump from the same period in 2023, according to Cemex Ventures.
By Matthew Thibault • April 17, 2024 -
Spencer Platt/Getty Images via Getty Images
Economic ReportsConstruction backlog posts first gain of 2024
Given industry headwinds, the “optimism among nonresidential construction contractors is astonishing,” said Anirban Basu, Associated Builders and Contractors chief economist.
By Sebastian Obando • April 16, 2024 -
Rebecca Noble via Getty Images
Economic ReportsConstruction planning posts largest decline of 2024
Institutional developments, which include life sciences and lab projects that surged during the pandemic, have now slowed down, according to Dodge Construction Network.
By Sebastian Obando • April 10, 2024 -
Courtesy of CRG
After pandemic boom, industrial construction starts fade
Project kickoffs fell 40% last year, as a slew of COVID-era warehouse and distribution projects have outpaced demand.
By Sebastian Obando • April 9, 2024 -
AzmanJaka via Getty Images
Economic ReportsJob openings inch up as layoffs, hirings soar
Construction sectors powered by federal funds have high demands for labor, but private segments face slower growth, according to an Associated Builders and Contractors economist.
By Zachary Phillips • April 3, 2024 -
Courtesy of Jay Paul Co.
Economic ReportsProject abandonments spike
Outright cancellations increased 7% over the past month, fueled by publicly funded projects, according to ConstructConnect.
By Sebastian Obando • April 3, 2024 -
Brandon Bell/Getty Images via Getty Images
Economic ReportsConstruction spending slips due to weather, interest rates
Monthly spending was down in 15 of 16 nonresidential categories, but on an annual basis, all sectors are still positive.
By Sebastian Obando • April 2, 2024 -
franckreporter via Getty Images
Office real estate value likely to plunge 26% through 2025: Moody’s
An above-average amount of commercial real estate debt will soon mature and property owners will need to refinance at the highest rates in years, Moody’s said.
By Jim Tyson • March 25, 2024 -
Panupong Piewkleng via Getty Images
Economic ReportsConstruction starts plunge 8% as Fed toes line on rates
January’s manufacturing gains were wiped away as the prolonged impact of higher interest rates and labor issues caught up with the sector.
By Matthew Thibault • March 21, 2024 -
Mario Tama/Getty Images via Getty Images
Economic ReportsInput price surge signals bumpy road ahead
“There is reason to believe that inflation will remain stubbornly high for months to come,” said ABC’s chief economist.
By Sebastian Obando • March 15, 2024 -
Tom Shaw via Getty Images
Balfour Beatty’s 2023 profits dip on investments
CEO Leo Quinn nonetheless predicted growth in coming years as the London-based contractor capitalizes on shifts in the U.S. market.
By Matthew Thibault • March 14, 2024
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