WASHINGTON (July 22, 2020)—Demand for design services from architecture firms began to stabilize in June, following their peak declines in April, according to a new report today from The American Institute of Architects (AIA).
NEW JERSEY (July 22, 2020)—The COVID-19 pandemic and resulting recession have wreaked havoc on United States building markets. According to Dodge Data & Analytics, commercial and multifamily starts were quite healthy during January and February but stalled as the pandemic hit the nation in March.
Birmingham, Ala. (July 20, 2020)—Construction Business Owner, the leading business magazine for contractors, is pleased to announce a free webinar presented in partnership with AvidXchange.
The live, online event, “5 Tips to Protect Your Construction Business Against Financial Fraud” will take place Aug. 20, 2020, at 2 p.m. EDT, and will cover how to recognize and prevent common types of fraud attacks.
WASHINGTON (July 21, 2020)—As a result of the partially shutdown economy, businesses and organizations will continue to be hesitant to invest in modernized or new facilities, according to a mid-year update to the American Institute of Architects’ (AIA) Consensus Construction Forecast. The trend ends an almost decade-long expansion in construction spending.
NEW JERSEY (July 16, 2020)—Total construction starts increased 6% in June to a seasonally adjusted annual rate of $641.4 billion. This marks the second consecutive monthly gain in construction starts following the COVID-19 induced declines in March and April. In June nonresidential building starts gained 6% and starts in the nonbuilding sector moved 27% higher. Residential starts, by contrast, fell 6% during the month.
WASHINGTON—Associated Builders and Contractors reported that its Construction Backlog Indicator rose to 8.1 months in June, an increase of 0.2 months from May’s reading. CBI is down approximately 8% from its June 2019 level. Every region except the Middle States experienced an increase in backlog in June compared to May, according to an ABC member survey conducted from June 20-July 1.
NEWTON, Massachusetts–Proposal activity for architecture, engineering and construction (AEC) firms sank to its lowest quarterly level in over a decade in the second quarter of 2020, as the coronavirus-related downturn trimmed backlog and reduced revenue for firms coast to coast.
HAMILTON, N.J. (July 8, 2020)—Heavy civil construction is deemed essential to our economy and has continued in many jurisdictions throughout the economic shutdown. However, data from The Civil Quarterly (TCQ), a new publication from Dodge Data & Analytics launched, reveals contractors in this sector are facing supply chain issues and other challenges in keeping jobsites going.
WASHINGTON (July 10, 2020)—Construction input prices rose 2.2% in June, according to an Associated Builders and Contractors analysis of United States Bureau of Labor Statistics’ Producer Price Index data released today. Nonresidential construction input prices rose by 2.3% for the month.
HAMILTON, NEW JERSEY (July 8, 2020)—The Dodge Momentum Index dropped 6.6% in June to 121.5 from the revised May reading of 130.1.
WASHINGTON—Associated Builders and Contractors announced the cancellation of ABC Convention 2020, which was scheduled for August 17-19 in Nashville, Tennessee. The event, which includes the National Craft Championships, Construction Management Competition and National Excellence in Construction Awards, was previously postponed from March due to the coronavirus pandemic.
Last week, the United States House of Representatives approved a climate-friendly $1.5 trillion infrastructure plan that would allocate billions of dollars to addressing ever-increasing issues with roads and bridges, transit systems, railways, harbors, ports and channels.
Construction spending declined for the third month in a row in May as a sharp slowdown in private projects more than offset a rise in public work, according to an analysis by the Associated General Contractors of America of government data released. Association officials warned that the pickup in public projects is likely to reverse soon unless the federal government acts quickly to invest in needed infrastructure and shore up crumbling state and local budgets.