Sources: U.S. Chamber of Commerce, Washington, D.C.; CP staff Rising costs, skilled labor shortages, and lack of materials continue to create challenges for general contractors and their clients, sending the U.S. Chamber of Commerce Commercial Construction Index down one point, to 65, in the final quarter of 2021. Revenue expectations, a key driver of the overall score, fell among Index…
Read MoreTag: nonresidential building
FMI research confirms sustained growth for design-build delivery
When they first looked at design-build utilization in 2018, researchers at North Carolina-based management consultant FMI confirmed what many in the industry knew first-hand: the project delivery method was beyond an “alternative process.” The firm’s new market analysis, forecasting 2021-2025 project activity and prepared for the Design-Build Institute of America (DBIA), underscores the initial assessment and traces the contracting method’s…
Read MoreMixed signals: Commercial project volume vs. overall economy
Sources: Associated Builders and Contractors, Washington, D.C.; CP staff
The Associated Builders and Contractors monthly Construction Backlog Indicator (CBI) of nonresidential building activity expanded to 9.5 months in March 2019, up 0.7 months or 8.8 percent from the prior month, when it stood at 8.8 months and hovered its highest level in series history.
Read MoreDodge Construction Outlook: 2019 markets stay present course
Sources: Dodge Data & Analytics, New York; CP staff
The 2019 Dodge Construction Outlook predicts that total U.S. construction starts will be $808 billion, essentially even with the $807 billion estimated for 2018. By major sector in dollar terms, residential building will be down 2 percent, nonresidential building will match its 2018 amount, and non-building construction will increase 3 percent.
Read MoreLeading forecast revises 2017 construction starts slightly downward
Sources: ConstructConnect, Norcross, Ga.; CP staff
The Q3 2017 Forecast Quarterly Report of ConstructConnect (iSqFt, Construction Market Data, BidClerk, Construction Data source) has trimmed projected U.S. total construction starts growth for this year against 2016 from 4.8 percent to 4.5 percent, and the 2018 year-over-year gain from 6.0 percent to 5.9 percent.
Read MoreBuilding sector fuels precast market’s projected 6.4 percent annual growth
Led by architectural and structural building product demand, U.S. precast concrete shipments are on track to rise from $8.9 billion in 2013 to $12.15 billion in 2018. Time-saving and quality control advantages will enable precast to capture more market share from cast-in-place and steel alternatives over the next four years, according to a new study from Cleveland market researcher Freedonia Group.
Read MoreReport confirms strength in commercial building activity
The commercial real estate development industry grew at the strongest pace since the economic recovery began in 2011, according to “The Economic Impacts of Commercial Real Estate,” an annual state of the industry report from the NAOIP Research Foundation, Washington, D.C. Author Dr. Stephen S. Fuller, director of George Mason University Center for Regional Analysis, finds the economic impact attributable to nonresidential development, which rose 24 percent over the previous year—the largest gain since the sector began to recover in 2011.
Read MoreEnergy-processing spurs industrial project work, Texas tops overall nonresidential log
Sources: NAIOP Research Foundation, Washington, D.C.; CP staff
Three years into measurable market recovery, a report for the Commercial Real Estate Development Association tracks strength in four major segments of nonresidential building, while listing the top 10 states for project activity based on dollar volume.
Read MoreWinter-battered construction activity returns to projected levels
Source: McGraw Hill Construction, New York
New construction starts in March advanced 7 percent to a seasonally adjusted annual rate of $521.4 billion, based on measurements of three major sectors: 1) nonresidential building, which picked up the pace after its lackluster performance at the outset of this year; 2) nonbuilding construction, logging a moderate gain; and, residential building, which settled back as single-family housing remained sluggish.
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