Construction Industry News

NEW JERSEY (Dec. 16, 2020)—Total construction starts fell 2% in November to a seasonally adjusted annual rate of $797.5 billion following a strong gain in October. Residential starts fell 7% during the month, while nonbuilding starts dropped 14%. Nonresidential building construction starts, however, rose 19% in November. Total construction starts fell in three regions, the South Atlantic, West, and Northeast, but rose in two, the Midwest and South Central.

NATIONAL—This week, the Associated Builders and Contractors of America (ABC), the Equipment Leasing and Finance Foundation (the Foundation), and NTEA, the association for the work truck industry, released three economic outlooks for the United States construction industry in 2021. The forecasts reported mixed predictions about the year ahead. Here's what you need to know: 

LOS ANGELES (Dec. 10, 2020)—AECOM announced the signing of a definitive agreement to sell its civil construction business, which includes the Shimmick Construction business, to affiliates of Oroco Capital. The transaction is expected to close in January 2021 upon the satisfaction of customary closing conditions.

WASHINGTON—More contractors are facing a shortage of building materials as the pandemic continues, according to new fourth quarter data from the United States Chamber of Commerce Commercial Construction Index. This quarter, 41% of contractors say less availability of building products and materials is a severe consequence of the pandemic, up from just 15% saying the same in Q3.

MONTREAL (Dec. 03, 2020)—WSP Global Inc. announced that it has entered into an arrangement agreement providing for the acquisition of all of the issued and outstanding shares of Enterra Holdings Ltd., the holding company of Golder Associates.

NEW JERSEY (December 7, 2020)—The Dodge Momentum Index fell 2.6% in November to 123.3 from the revised October reading of 126.5. The Momentum Index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.

NEW YORK, New York/SEATTLE, Washington (November 30, 2020)—Abbott Construction announced that it has merged with STO Building Group to become a member of the STO family of companies.

WASHINGTON (Dec. 3, 2020)—Like most of the economy, construction, and therefore construction employment, was hit hard by the spread of COVID-19 and measures to limit the pandemic.

Jacobs Engineering Group Inc. recently announced its financial results for the fiscal fourth quarter and fiscal year ended Oct. 2, 2020.

Q4 2020 Financial Highlights:

WASHINGTON (December 1, 2020)—National nonresidential construction spending was virtually unchanged in October, according to an Associated Builders and Contractors analysis of data published by the United States Census Bureau. On a seasonally adjusted, annualized basis, spending totaled $792.4 billion for the month.

WASHINGTON (December 1, 2020)—The construction industry’s fortunes continued to diverge in October, as residential construction expanded again while nonresidential construction remained largely unchanged from a month ago and is down compared to last year, according to an analysis of new federal construction spending data by the Associated General Contractors of America.

The United States Internal Revenue Service (IRS) has released several items containing guidance related to Paycheck Protection Program (PPP) loans—specifically for businesses planning to seek forgiveness for the loans.

SAN RAFAEL, Calif., (Nov.

WASHINGTON (Nov. 18, 2020)—While architectural billings failed to show much progress during October, signs of improving business conditions at firms have emerged, according to a new report from the American Institute of Architects (AIA).

NEW JERSEY (Nov. 16, 2020)—Total construction starts rose 12% in October to a seasonally adjusted annual rate of $787.9 billon. While sizeable, the increase does not erase September’s substantial pullback in starts. All three major categories moved higher over the month, nonbuilding starts rose 25%, nonresidential buildings increased 19%, while residential activity gained 2%.

SAN RAFAEL, California (Nov.

LOS ANGELES (Nov. 16, 2020)—AECOM reported fourth quarter and full year fiscal 2020 results.

Full Year Fiscal 2020 Accomplishments

PHILADELPHIA—The astonishing toll of overrunning costs and schedules on major engineering and construction projects worldwide is laid bare in an analysis of claims and disputes published recently by HKA.

CRUX Insight 2020 is the product of investigations into more than 1,100 projects across 88 countries by HKA, construction and engineering industry specialists in consulting, expert and advisory services.

NEW JERSEY (Nov. 6, 2020)—The Dodge Momentum Index fell 1.8% in October to 127.5 from the revised September reading of 129.8. The Momentum Index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.

NEW JERSEY (November 10, 2020)—Dodge Data & Analytics released its 2021 Dodge Construction Outlook. The report predicts that total United States construction starts will increase 4% in 2021, to $771 billion.