Construction Starts Down 3% in October After Seasonal Adjustment

October construction starts increased 6% from September, but the monthly change was a 3% drop after adjusting for the usual seasonal pickup... Read More

Nevada, Arizona Experience Largest Declines in Construction Jobs, AGC Reports

Construction workers continued to suffer dramatic job losses as all but one state saw declines in construction employment this October compared to last year, according to an analysis of new state-by-state employment figures released today by the federal government.... Read More

Housing Cooled In October, Survey Shows

The housing market chilled in October, but look for improvement now that the expanded tax credit appeals to a much wider range of buyer.... Read More

New Study: Green Building to Support Nearly 8 Million U.S. Jobs Over Next 4 Years

USGBC/Booz Allen Hamilton report shows Green construction to contribute $554 billion to U.S. GDP between 2009 and 2013... Read More

Construction Market Forecast Calls for 11% Jump in 2010

Gains in housing and public works will offset declines in commercial and manufacturing building... Read More

Construction Unemployment Rate Rises to 18.7%

... Read More

Jobless Rate Passes 10% with Heavy Losses in Construction

... Read More

No Recovery Yet For Construction Industry

Latest figures show double-digit drops in spending compared to 2008.... Read More

New-Home Sales Fall in September

NAHB reports on the new-home sales for september 2009... Read More

Construction Employment Shrinks in nation’s Largest Metro Areas

All but 12 community’s nationwide saw declines in construction employment between September 2008 and September 2009, according to a new analysis of metropolitan area employment data from the Bureau of Labor Statistics released by the Associated General Contractors of America. The analysis found more construction jobs were lost in Phoenix, Ariz. (35,100) than in any other city in America.... Read More

September Construction Slides 7%

... Read More

Construction Spending down in August; Further Drop Expected

... Read More

Job Losses: Construction Equipment Industry Suffers Worse

... Read More

Construction Industry – Signs of Improvement

A McGraw Hill Construction newsletter had some good news. “New construction starts in August grew 2% to $429.8 billion (annual rate). The lift was provided by nonbuilding construction, comprised of public works and electric utilities, which advanced 13%. Highway construction rose 12%, helped by emerging support from federal stimulus funding, while water supply projects jumped 38%. In addition, electric utility construction surged 120%, featuring the August start of three large wind power projects. Residential building in August settled back 1%, as multifamily housing retreated 13%. At the same time,... Read More

Housing Starts Show Economy's Strengthening, Economist Says

The U.S. Census Bureau and Commerce Department's new residential construction report for August 2009 housing starts shows the overall economy is strengthening, says Jim Haughey, Reed Construciton Data's chief economist.... Read More

Construction Workers Account for One-Third of Jobs Lost

Nonresidential Construction Continues to Account for Larger Share of Job Losses than Residential Construction According to New Analysis by Top Construction Economist Construction workers nationwide continued to bear the brunt of the recession, accounting for almost one-third of jobs lost this August, according to an analysis of new construction employment figures released today by the U.S. Bureau of Labor Statistics. The new figures underscore how the current economic climate is having a disproportionate impact on the construction industry, the Associated General Contractors of America’s economist noted.... Read More

Construction Workers Almost One-Third of All Jobs Lost in August

Construction workers nationwide continued to bear the brunt of the recession, accounting for almost one-third of jobs lost this August, according to an analysis of new construction employment figures from recently released U.S. Bureau of Labor Statistics.... Read More

Construction Unemployment Spikes in July

Construction's unemployment rate jumped in July to 18.2%, from 17.4% in June... Read More

Construction Unemployment Spikes in July

Construction's unemployment rate jumped in July to 18.2%, from 17.4% in June... Read More

Construction Employment Drops Affecting Nearly Every State

Associated General Contractors reports that all but two states -- Louisiana and North Dakota -- reported decreases in construction employment between July 2008 and July 2009. Nevada and Arizona reported the deepest drops.... Read More

Construction Unemployment At 18.2%

The Bureau of Labor Statistics released seasonally adjusted employment numbers recently that showed construction employment falling by 76,000 jobs in July.... Read More

Construction's Jobless Rate Increases in July

... Read More

Economic Outlook Continues to Fall

... Read More

Canadian construction growth drops

The construction industry in Canada declined again in April, while there was an easing in the pace of decline of overall economic activity. Statistics Canada reported that construction activity fell by .1 per cent in April, which was the sixth consecutive month of decline.... Read More

Commercial Construction Drops 71% in June

... Read More

Construction sector shrinks for sixteenth consecutive month

Though the construction sector shrank for the sixteenth consecutive month in June, according to the CIPS/Markit Construction Purchasing Managers Index, David Noble, chief executive officer at the Chartered Institute of Purchasing and Supply, said “The sector is in better shape than at the start of the year. Moreover, though purchasing managers say current contracts are [...]... Read More

War Funding Bill Provides $4.4 Billion for Construction

... Read More

April Construction Slips 1%

... Read More

Canadian construction activity falls 2.1 per cent in February 2009

The construction industry in Canada declined again in February, while overall economic activity seems poised for a recovery in the next few months, says Statistics Canada.... Read More

Canadian construction activity falls 2.1 per cent in February 2009

The construction industry in Canada declined again in February, while overall economic activity seems poised for a recovery in the next few months, says Statistics Canada.... Read More

Construction Spending Will Slide 15% in 2009

The 2009 Construction Outlook Spring Update recently published by McGraw-Hill Construction, New York, says that while construction spending will drop to $463.1 billion in 2009, the decline will be cushioned by the recently enacted stimulus legislation, the American Recovery and Reinvestment Act of 2009. Authored by Robert Murray, vice president of economic affairs for McGraw-Hill Construction, the... Read More

U.S. Construction Spending Up in March

... Read More

Construction Industry Highlights

I’ve got a couple of items from around the construction industry I thought would be of interest to everyone. First off, the latest on the state of the construction industry. The most recent report from the U.S. Census Bureau of the Department of Commerce shows that construction spending during March 2009 was estimated up 0.3 percent from February. Nonresidential construction was up 2.7 percent from the February estimate, public construction spending was 1.1 percent above the revised February estimate and highway construction was at 0.8 percent below the revised... Read More

ABC Says 1Q GDP Worse than Expected

The headline is a little grave so let’s start the post with a quote from ABC Chief Economist Anirban Basu on what the outlook for nonresidential construction as it’s a little more sunny: “…there were a number of positive indications in this GDP report, including evidence of a rebound in consumer spending,” adds Basu. “Consumers are apparently more confident than they appear, and this confidence translated into higher consumption of durable goods. This suggests that the ongoing recession may end just as many economists predict " during the latter... Read More

£500m private housing fund to kickstart housebuilding sector

A £500m investment fund to buy up and build hundreds of new homes for private rental is on the cards.... Read More

Luxury condo development opens in downtown Los Angeles

$300 million project combines innovative architecture with sustainability... Read More

Sinking World Construction Demand Will Keep Costs Falling

... Read More

Department of Defense Expenditure Plan Provides Tremendous Opportunities for Federal Construction Contractors

Although many aspects of our economy are suffering, the federal construction market will most certainly be booming.  On Friday March 20, 2009, the Department of Defense issued a 191 page Report to Congress detailing how it plans to spend the money it has received as part of the American Recovery and Reinvestment Act of 2009, also known as the “Stimulus Package.”  The DoD has “identified specific investments in construction, facility improvements, and energy efficiency projects that will help improve the quality of life for our troops and their families.”... Read More

Wisconsin’s Michels Goes to Great Depths in Guam

In the spring of 2007, the Guam Waterworks Authority awarded Michels Directional Crossings with a contract to construct two separate shore approaches in order to complete an ocean outfall project for sewage lines.... Read More

The Stimulus is Here. Searchable Spreadsheet of 18,000 + Infrastructure Projects

stimuluswatch_data(1).xlsx... Read More

Unique Retaining Wall On Condominium Project

Courtesy of Nicholson Construction Company The construction of a new condominium complex in Arlington, VA, required a permanent retaining wall to support a 50-foot cut and an existing 16-story condominium building on top of the slope. Since the owners of the neighboring condominium would not allow tieback anchors to encroach on their property, the original designer proposed a complicated and ex...... Read More

BAM secures £150m-plus Edinburgh children's hospital

BAM Construction has held off four rivals to scoop a £150m-plus framework deal to build the new Royal Hospital for Sick Children in the Little France area of Edinburgh.... Read More

Willmott Dixon, Wates and Kier on £360m framework

Three firms have signed up to a framework deal in the East Midlands valued at £360m and aimed at saving the costs and time involved in repeat bidding for individual projects.... Read More

Wirral contractor recycles paint pots into garden furniture

A Wirral-based painting contractor is recycling its plastic paint pots into garden furniture and claims this to be a UK-first.... Read More

Wisconsin Breaks Ground on Ambitious Highway Project

... Read More

New Home Construction Up Sharply in February

The U.S. Census Bureau and the Department of Housing and Urban Development recently released their figures for privately-owned housing starts in February and with this announcement comes encouraging news: Housing starts were at a seasonally adjusted annual rate of 583,000 which equates to a 22.2 percent increase from January 2009. This is still 47.3 percent below the revised February 2008 rate of 1,107,000 so housing starts are no where near where they once where. But for those who are the glass half-full type this increase over last month could... Read More

February Construction Spending Figures Better Than Expected

Construction spending during February 2009 was estimated at a seasonally adjusted annual rate of $967.5 billion, 0.9 percent below the revised January estimate of $976.2 billion, according to the Commerce Department. January construction spending fell 3.5 percent.... Read More

Construction Job Losses Continue In March

Employment in construction has fallen by 1.3 million since peaking in January 2007.... Read More

Most Stimulus Road Money to Bypass Colorado Springs

... Read More

Komatsu Steps Up Plant Closures

... Read More

Remediation in Las Vegas

Union Park in downtown Las Vegas is one of the most ambitious brownfield redevelopment programs in the country. The project aims ...... Read More

Pedestrian Bridge Construction Over Interstate 696 in Michigan Proceeds

Construction of an approximately $2.3-million pedestrian bridge that will cross over Interstate 696 and connect Harrison High School on the north side with Beechview Elementary School on the south side in Farmington Hills, MI, began in January and will be completed in July 2009. C.A. Hull Co., Inc., of Walled Lake, MI, is the prime contractor for the project.... Read More

Renovating LaGuardia Community College

Citadel Construction has been selected as general contractor for a multiphased, 46,000-square-foot renovation spanning several floors in the massive C-Building or "Center 3" on the main campus of LaGuardia Community College in Long Island City, NY. The project, which will create new classroom space and administrative/executive offices, is part of the state and city's overall commitment to upgra...... Read More

February Construction Falls 8%

... Read More

SaskPower plans expansion of Queen Elizabeth Power Station

SaskPower is moving ahead with plans to install about 100 megawatts (MW) of natural gas-fired electricity generation at the Queen Elizabeth Power Station in Saskatoon by the end of the year.... Read More

The Top 10 Dumb Sales Questions During a Bad Economy

If your team is fond of any of the following queries, you may find yourself in a world of trouble.... Read More

Fluor Awarded Two Valero Hydrocracker Projects Totaling $1.2 Billion

... Read More

RICS reports record construction work slump

Construction workloads fell to record lows during the last quarter of 2008 according to the latest RICS UK Construction Market Survey.... Read More

RICS reports record construction work slump

Construction workloads fell to record lows during the last quarter of 2008 according to the latest RICS UK Construction Market Survey.... Read More

Examining The Regional Construction Market

Economists across the country are forecasting a downturn in 2009 construction activity. The U.S. highway and bridge market is expected to flatten during '09, with the value of construction work put in place on highways and bridges projected at $80.2 billion — a slight increase over 2008's $79 billion, according to the American Road & Transportation Builders Association In addition, it...... Read More

Why Should Construction Change?

The U.S. construction industry comprises approximately 9-11% of the U.S GNP.  It is the largest service sector in the United States. CEOs of the U.S. Big Three automobile manufacturers went to Washington, D.C., last fall to plead for bailout packages. They told Congress and the american public that without financial assistance, the auto industry, which was touted as the mosat important, would severly impact the national economy. The fact is that without the construction industry, we would be in an even more serious financial situation than we face today.  Despite... Read More

January Construction Slips 3%

... Read More

Asphalt Outlook Improves

The economic downturn and a drop in the price of asphalt binder should combine to make the upcoming construction season somewhat different from 2008 for Northwest paving contractors and asphalt producers. Though the price and availability of asphalt shouldn't be the problems they were last year, 2009 won't be without its challenges, however.... Read More

Year-End Tally for 2008 Shows a 15% Decline in Construction

... Read More

Travis Perkins makes £150m profit but predicts 25% fall in demand by 2009 Q3

Actions taken to deal with the fall in construction activity have resulted in an exceptional charge of £56m.... Read More

Building industry showing signs of resilience?

According to the February Glenigan Index, the building industry is showing signs of resilience. The Index monitors and tracks the value of all new construction projects across the UK and provides a definitive guide to trends and forecasts. The figures suggest that the industry has stabilised during January. ‘Green shoots’ or ‘drowning men clutching [...]... Read More

Building and construction sees 28% rise in insolvencies

Information group Experian has revealed that insolvencies in building and construction rose 28% in January.... Read More

Building and construction sees 28% rise in insolvencies

Information group Experian has revealed that insolvencies in building and construction rose 28% in January.... Read More

Building and construction sees 28% rise in insolvencies

Information group Experian has revealed that insolvencies in building and construction rose 28% in January.... Read More

Construction industry will be hit hardest by recession, economist says

Credit 1 Credit Union chief economist Helmut Pastrick says the provincial economy will shed more then 42,000 workers in 2009 and construction will be hit harder than any other industry.... Read More

Existing Home Sales Increase by 6.5% in December

According to the National Association of Realtors, sales of existing homes increased by 6.5% in the month of December.  Read article.... Read More

Examining Construction Digest's Regional Construction Market

Economists across the country are forecasting a downturn in 2009 construction activity. The U.S. highway and bridge market is expected to flatten during '09, with the value of construction work put in place on highways and bridges projected at $80.2 billion – a slight increase over 2008's $79 billion, according to the American Road & Transportation Builders Association.... Read More

Construction Economists See Fewer Building Starts in 2009

... Read More

Construction orders fall to lowest level since 1995

New construction orders fell by more than a quarter in the past year, according to official figures from the Office of National Statistics.... Read More

UK construction firms face 75% profitability drop

UK construction firms face a 75% fall in profitability and a 71% drop in turnover in 2009 compared to the previous year, according to a survey by accountancy firm Grant Thornton.... Read More

Construction's 2009 Forecast

As I write this year's forecast for 2009, the National Bureau of Economic Research has officially declared that the U.S. economy has been in a recession for a year. Surprise! Many economists feel that this will be the worst recession since 1981–1982 and will continue well into 2009. States throughout the country have been revising their budgets, slashing spending and redirecting money in ...... Read More

Midwest Contractor's 2009 Outlook

After several years of steady growth in key segments of the marketplace such as the highway/bridge and commercial building markets, construction activity in Midwest Contractor-area states is expected to slow dramatically in 2009. Times are tough throughout the U.S., with the nation struggling to deal with the largest economic crisis in decades.... Read More

Construction Digest's '09 Outlook

After several years of steady growth in key segments of the marketplace such as the highway/bridge and commercial building markets, construction activity in Digest-area states is expected to slow dramatically in 2009. Times are tough throughout the U.S., with the nation struggling to deal with the largest economic crisis in decades.... Read More

Overall Construction Spending Drops Just 0.6 Percent in November

... Read More

Construction News 2009 Forecast

The South Central U.S. traditionally feels economic trends as the back side of a wave. Trends that begin on the east and west coasts and in the northeast meet down south many months later, and have defused a bit. Ken Naquin, CEO of Louisiana AGC Inc., believes that for both “public works and private works in Louisiana, the carryover from 2008 into 2009 is going to hold us in pretty good ...... Read More

The Outlook for Construction

Little did we know one year ago what the world would be like today, particularly the condition of the U.S. and global economies. Despite the difficult times we were in 12 months ago, contractors were still looking ahead with some optimism that the "one state recession" we called the Michigan economy would turn around, and we'd be seeing more projects in the pipeline and more shovels breaking gr...... Read More

Dixie Contractors' Outlook 2009

What's the outlook for construction in the southeast in 2009? Although there is great concern about the condition of construction in the southeastern states of Alabama, Florida, Georgia and Tennessee, some industry observers say that there are some areas — such as health care, education, water/wastewater, and environmental construction — which may do relatively well.... Read More

UK construction shrinks at fastest rate on record

December saw the fastest contraction in the UK construction sector since records began more than 10 years ago.... Read More

Construction Starts Fall Further, Decline To Continue Into 2009

... Read More

Architects Feel the Hit

A recent article in Architectural Record describes the economic downturn's effect on design firms, and the gloomy forecast for the forseeable future. According to the article, retail and hotel building will fall 10 per cent in 2009, with office construction constricting by 12 percent. While some regional banks for still making loans for projects that are not speculative, even this activity is undercut by fundamental problems in the construction industry, one of the most important being the steep rise in prices of construction materials.Institutional projects are being impacted as... Read More

New Home Sales Drop 2.9% in November

According to the U.S. Department of Commerce, November marked the slowest sales pace in nearly 18 years.... Read More

Scottish construction picks up £708,000 funding package

The Scottish Construction Centre, the body set up last year by Scottish Enterprise to improve the performance of the country’s construction industry, has received £708,000 of European funding.... Read More

Scottish construction picks up £708,000 funding package

The Scottish Construction Centre, the body set up last year by Scottish Enterprise to improve the performance of the country’s construction industry, has received £708,000 of European funding.... Read More

How Hard Will Recession Hit Construction Management Firms?

Amidst the nail biting and angst of some industry sectors, the commercial construction marketplace is poised to do better. Over the next 12 months, I firmly believe we'll see the Texas commercial construction market increase moderately in education and healthcare markets. I do not think it is unreasonable to assume an increase in commercial construction activity within major Texas cities.... Read More

Is the Dubai Bubble Starting to Burst?

... Read More

Construction Market Forecast: Nonresidential Negative; Non-Building Positive

FMI released its Construction Outlook: The Fourth Quarter 2008 Report. The Construction Outlook, a quarterly construction market forecast developed by FMI’s Research Services Group, looks at the good, the bad and the ugly of the economic future of construction over the next few years.... Read More

Construction Outlook 4Q 2008

Heather Jones, construction economist with FMI, checks in with the Construction Business Podcast to discuss the latest Construction Outlook report from FMI. In this podcast we talk about the current status of the market and the construction forecast for 2009 and beyond. Download FMI’s Construction Outlook Fourth Quarter 2008 Report... Read More

The Threat To Independent Contracting

The construction industry is central to the health of the U.S. economy and must play a vital role in economic recovery. Infrastructure investment is expected to be a key driver of employment as the government acts to stimulate demand. Under those circumstances, government ought to be taking steps to ensure that the construction industry can operate efficiently and effectively.... Read More

Value of current and proposed British Columbia construction projects climbs

The B.C. government is predicting that the construction industry will continue to be a key driver of economic growth in the province, but others forecast a slowdown due to the global financial crisis.... Read More

Total volume of construction output stays flat

The total volume of construction output in the third quarter of 2008 has remained unchanged compared with the second quarter, according to official government statistics released today.... Read More

Highway Paving: Investment Our Future

Last week Stephen Sandherr, CEO of the Associated General Contractors of America, was invited to meet with President-elect Barack Obamas transportation transition team to offer AGC’s insight onto what the new Administration should do in its first year. AGC made a pitch for a healthy amount of transportation infrastructure investment, and I think Sandherr and AGC are right on the money. From the standpoint of this industry, infrastructure work, especially work on roads and highways, gets the big pavers back on the big jobs and frees the rest of... Read More

Analyst's verdict on construction's five top players

With the UK construction market having become bi-polar, Joe Brent, an analyst with stockbroker Citi, had produced an 80-page report on how the prospects are changing for five of the major contractors.... Read More

Non-residential Construction Index Falls to Record Low

... Read More

300,000 construction jobs in danger, RICS warns

At least 300,000 jobs could be lost over the next few years unless the government brings forward projects.... Read More

Ten Battle-tested Rules for Communicating Well in Hard Times

The line of organizations delivering bad news these days is a long one. And with the financial market challenges causing a ripple effect across the broader economy, that line may be long across America for some time. Communicating tough news is an unenviable task, and legal advisers are increasingly called upon to guide clients through the delivery of news that can be jarring: layoffs, declining profits, product recalls and ethical breaches, to name a few. Henry Fawell, a Strategic Communications consultant at Womble Carlyle based in the firm's Baltimore... Read More

August Construction Retreats 3%

... Read More

2009 Construction Market Forecast

ENR just released their estimate for 2008 and forecast for 2009.  It indicates an overall drop of 7% in construction starts on top of the 8% experienced in 2007 and 12% in 2008.  While this is horrible overall news it is a fact and there isn't much that can be done about it from the standpoint of the individual contractor.  The only thing that can be done is to focus on tightening up on costs, getting better at conserving / managing cash and to focus more resources on marketing.  Click... Read More

The Election’s Effect on the Construction Industry

Barack Obama has been elected President and everything is back to normal. As one of my favorite college football analysts would say - “not so fast my friend.” Multiple reports have come out regarding a down year in 2009 affecting pretty much every aspect of the construction industry - from contractors to manufacturers. As you’re reading everyone’s updates, outlooks, forecasts, etc. one person I would suggest following and giving his insights a little more weight to is that of AGC’s Chief Economist Ken Simonson. In his Simonson Says series... Read More

London commercial construction activity falls 63% in 12 months

Construction activity in London’s commercial sector has fallen 63% compared to a year ago, according to a new report from property consultancy Drivers Jonas.... Read More

Housing slump to continue to 2010, survey warns

The housing slump will persist until 2010 as orders plummet and building work falls off from the industrial and commercial sectors, a new survey has warned.... Read More

Survey: Landscape Architects See Slowdown 

The quarterly survey of the American Society of Landscape Architects reflects a slowdown in billable hours. Sustainability issues related to local, state and national government as well as in the 2008 election cycle are also covered in this survey. Here's a look at the results.... Read More

September Construction Spending Down But Beats Expectations

... Read More

Construction shrinking at fastest-ever rate

The construction sector shrank again in October for the eighth consecutive month and at its fastest pace since records began eleven years ago.... Read More

Housing Construction Decline Hits Long-time Construction Supply Company

Stock Building Supply, established 86 years ago in Raleigh, North Carolina as Carolina Builders, "is slashing 3,000 jobs and closing 86 facilities in six states as it struggles with the biggest housing slump in more than six decades" reports the News & Observer. Parent company Wolseley Plc (UK), made the announcement on October 23. The story notes that other building suppliers are also cutting back as a result of the economic slowdown, although the Triangle and Charlotte may fare better than other areas such as Florida, California and Louisiana.... Read More

Construction now officially in recession

Construction is now officially in recession. Latest GDP figures show the industry has recorded two consecutive quarters of negative growth.... Read More

Persimmon shares fall by more than 15%, other house builders also suffer

House builders’ share prices have fallen yet again and if plans to nationalise the sector are serious, then every day’s delay in that major shake-up would only make it that much easier to accomplish.... Read More

Fort Bliss BCTs Coming On-Line

The Department of the Army is currently underway with an unprecedented transformation to Fort Bliss in El Paso. The $4.1-billion military construction program encompasses 90 projects involving 300 buildings on 3,100 acres to accommodate 10 million square feet of living and work space in support of approximately additional 30,000 soldiers.... Read More

AIA Architects Report Slower Billings

Architects participating in the American Institute of Architects' (AIA) Work-On-the-Boards survey said their billings declined again in August, the seventh month in a row that architecture firms have reported a slowdown in activity. But the score of 47.6 indicates that conditions may be moderating. According to an article posted on www.aia.org by Jennifer Riskus, AIA's economics and markets research... Read More

Stock market gloom continues, with Construction Index down 7.5%

There was no let up in the financial woe this morning (Thursday), with Travis Perkins the worst hit on the markets.... Read More

Construction Outlook 3Q 2008

According to FMI’s Construction Outlook: The outlook for 2008 has been revised downward for residential and upward for nonresidential construction. Nonresidential starts from 2007 will prop up put in place construction in 2008. The pain from decreasing starts in 2008 will not be felt until 2009. The outlook for 2009 has been revised downward for both residential and nonresidential construction. Heather Jones, construction economist for FMIs Research Services returns as a guest on the Construction Business Podcast to dig into the findings of the recent report and explain some... Read More

De-leveraging threatens construction demand

Financial markets are rapidly de-leveraging, drastically reducing the amount of financial capital available for capital investment. After a shake out and adjustment period, the cost of funds for construction and other capital investments will be much higher after seven years of cheap capital. And the lingering lack of trust in the solvency of private financial institutions will keep their borrowing cost – and, hence their lending rates – higher than normal relative to risk free government bonds for many months.. Both the economy and construction will be stuck in... Read More

Housing market 'on its knees', says report

The UK housing market is “on its knees” with “little chance of beginning its recovery”, according to a survey of property prices.... Read More

The Top 400 Contractors SourceBook

For large contractors, 2007 was close to the best of times. While the housing market was collapsing, most other markets continued to show strength. But contractors now are seeing signs of a downturn and are bracing for tougher times ahead.... Read More

Financial crisis set off by overregulation

The financial crisis is quickly spreading from a handful of large financial firms to every financial institution and to everyone with an insurance policy, an investment account, a pension or a job. The original crisis is real and serious but the fallout in the last few days is artificial, probably brief, but even more serious for the economy and construction spending if it is not handled correctly. It is due to overregulation of the financial markets which put investment managers in a catch-22 position. So far the Treasury and... Read More

Lehman Brothers’ bankruptcy will weaken commercial construction

Contractors and developers should expect a few days to a few weeks of financial chaos with volatile credit rates and delayed access to credit from the bankruptcy over the weekend of the Lehman Brothers investment bank. Then the consequences for construction will be somewhat lower short term credit rates as the FRB adds liquidity to minimize additional bank failure but somewhat higher long term credit rates in response to the eventual inflationary impact of the added liquidity. Economic growth is likely to slow even further later this year in... Read More

Large Powerplant Contracts Give Construction Stats a Boost

The value of new construction starts increased 6% in July to a seasonally adjusted rate of $578 billion, according to McGraw-Hill Construction.... Read More

Construction output drops 0.5% in Q2

Construction output fell 0.5% in the second quarter, according to the latest official figures - but the news could get worse.... Read More

Irish building supplies group Grafton to cut a further 1,000 jobs

Irish building supplies group Grafton is to axe up to 1,000 jobs this year due to the housebuilding downturn in the UK and Ireland.... Read More

Construction output drops 0.5% in Q2

Construction output fell 0.5% in the second quarter, according to the latest official figures - but the news could get worse.... Read More

August jobs report: Grim for economy but positive for construction

Today’s grim August jobs report provided more evidenced that the overall economy continues to weaken but that the long decline in construction may be ending soon. 84,000 jobs were lost in August but only 8,000 were in construction. The July job count was cut was cut 58,000, including a 1,000 job upward revision for construction.... Read More

Construction Spending Fell 0.6 Percent in July

... Read More

End of domestic recession will boost construction

The domestic recession in the US is almost over. It began late last year and probably persisted through the summer, perhaps a few months longer, bringing an end to the expansion of nonresidential construction and delaying the recovery in the housing market. By yearend the economic environment will likely be a boost rather than a restraint to construction. Nominal construction spending is expected to be rising by yearend and real construction spending, after inflation, is expected to be rising by the end of winter.... Read More

3.3% GDP growth does not improve the construction economic environment

The US economy is still in a domestic recession which means a recession environment for construction in spite of the 3.3% growth in 2nd quarter GDP (initially reported to be 1.9%). The large upward revision was expected. 3.1% of the 3.3% GDP growth was improvement in the trade balance. Gross domestic purchases increased only 0.2% but remains nearly 1% below summer 2007. More trade improvements will keep GDP growing at about a 1.0% pace in the second half of the year but domestic spending is likely to weaken further... Read More

Construction Unemployment Jumps in Vegas

... Read More

Home sales rise but not enough to force a rise in housing starts

This weeks’ home sale reports suggest that deep discounts in home prices have stopped the slide in home sales but that a measurable recovery in housing starts is still being prevented by the collapse of the subprime mortgage market, the domestic recession it set off and the abandonment of more than million homes.... Read More

Construction output down by over £300m in Q2

Construction's output was down by over £300m in the last quarter compared to the first quarter of 2008, according to the latest GDP figures for the UK economy.... Read More

Number of homes being built slumps 19%

The number of new homes being built in England has slumped by 19% in the past year, new figures show.... Read More

Improving Trade Balance Keep Construction Materials Production Steady

US construction materials production, including an improving trade balance for construction materials, increased 0.4% from April to July while total construction spending (after subtracting project cost increases) fell 1.5-2.0%. Construction materials exports are about 20% above a year ago while imports have declined slightly.... Read More

Non-Residential Building Starts Decline in July

The value of non-residential building starts nose-dived 31% in July, compared to July 2007, according to Reed Construction Data, Norcross, Ga.... Read More

Housebuilding land value drops 20% in first half of 2008

The value of residential building land dropped 20% in the first six months of the year and could still fall by up to 50%.... Read More

Housebuilding land value drops 20% in first half of 2008

The value of residential building land dropped 20% in the first six months of the year and could still fall by up to 50%.... Read More

Current GDP trends overestimate construction demand

GDP growth has improved from -0.2% last fall to 0.9% during the winter and 1.9% in spring. The 1.9% growth in the 2nd quarter will be revised up to about 2.8% to correct the underestimate of June exports and overestimate of June imports used in the first GDP estimate. But construction spending dropped 4.5% over the same period, as much as 10% after inflation, and the value of construction starts fell as least twice as much. The domestic economy has been in a recession since last fall but the... Read More

Economic activity in Canada’s construction sector continues to shrink

Economic activity in Canada continued to fluctuate between monthly periods of moderate economic growth and decline in May. All components of the construction sector declined, including residential buildings, non-residential buildings and engineering and repair work.... Read More

Construction activity falls fuel recession fears

The Times has warned that the prospect of a recession loomed closer as figures published yesterday showed that construction activity dropped to its lowest level since 1997 and analysts prepared for a round of bad news from the service sector.... Read More

Construction Spending Falls 0.4 Percent in June

... Read More

Six construction markets hardest hit by recession

Construction spending reported by the Census Bureau has dropped sharply for single family homes, conservation, communications facilities, retail and religious buildings and highways from November to June which is approximately the time period likely to be labeled a recession when final monthly economic and market data is analyzed sometime next year.... Read More

Construction activity falls fuel recession fears

The Times has warned that the prospect of a recession loomed closer as figures published yesterday showed that construction activity dropped to its lowest level since 1997 and analysts prepared for a round of bad news from the service sector.... Read More

There is certainly a great deal of anxiety in the industry with construction companies announcing several thousand job cuts in recent months

There is certainly a great deal of anxiety in the industry with construction companies announcing several thousand job cuts in recent months. Industrial production is now falling too, and the service sector, which constitutes 74% of GDP, has also slowed. However, there is still a lot of business out there, particularly as buyers look [...]... Read More

Pelican Hill Resort Construction

Snyder Langston, of Southern California, is constructing a 5-star hotel at the Resort at Pelican Hill, near Newport Beach, CA. On behalf of The Irvine Company, Snyder Langston is working on a total of 127,622 square feet, which includes the hotel core, spa and pool grill. The architect is Altevers Associates.... Read More

Housing slowdown could force 30% price rise

Falling output from housebuilders could cause house prices to soar by 30% between 2009 and 2012.... Read More

Housing crisis to persist up to 2010

Housebuilders are urging the government to speed up a solution to end the housing crisis, in the wake of a report that says the market will suffer until 2010.... Read More

Construction insolvencies shoot up 35%

The number of construction companies falling into insolvency since April has risen 35% on a year ago.... Read More

EPE Power Station Expansion Creates Construction Jobs

About 200 construction jobs are expected to be created in coming months for the first phase of the $217 million-dollar addition to El Paso, Texas-based El Paso Electric’s (EPE) Newman Power Generating Station... Read More

State of the Infrastructure

Probably the most pressing issues facing the heavy/highway construction industry have to deal with the need for increased funding for America’s infrastructure. If finances are not made available many upcoming projects will be delayed or even canceled all-together. Despite having a diverse impact on our road builders, this could have a crippling effect on our nation’s economic health. In the latest edition of this podcast series, Brian Moore discusses the shifting trends of the industry and how it will reshape the industry.... Read More

Reconstructing I-64 In St. Louis

The Missouri Department of Transportation (MoDOT) is in the middle of a very busy construction season, with many key highway and bridge projects under way across the state. But none is bigger than the $535-million new I-64 Project — the reconstruction of Interstate 64/U.S. 40, a major, six-lane, east-west arterial in the St.... Read More

Confidence jump will boost construction demand

As expected, consumer confidence picked up with falling gasoline pump prices. The Michigan Confidence Index jumped to 61.2 in late July from 56.6 in early July and June average of 56.4. The recession level of consumer confidence has been the major restraint on the economy for many months. If the turnabout is sustained, as assumed in our forecast, the volume of construction spending will resume expanding by yearend.... Read More

Home Price Drop Is Good for Builders

Today the S&P/Case-Shiller Home Price Index came out and showed a 15.8% decrease in May home prices compared to a year ago. The index is m...... Read More

Construction spending will plunge if weak GDP outlook is correct

GDP growth was expected to be near 0.0% in the first half of the year according to the consensus outlook early in the year, then rise to 2% in the second half and rise further in 2009. The stall in the first half did not happen; GDP growth will be 1.5%+. Now there is no consensus on what happens next. Forecasts are split between a delayed stall later in the year with 1.0-1.5%% GDP growth next year and a progressive, if slow, recovery with GDP growth at a near... Read More

Oil price decline set to trim construction inflation

The future price (first month) of crude oil fell more than $20/bbl.to under $126/bbl. over the last three weeks after tripling over the previous three and a half years. This is the new trend for oil prices for the next few years. Contractors and their suppliers will begin to see reduced materials cost yet this year and an associated boost in space and facility demand next year. This change in the oil price trend was generally incorporated in the Reed Construction Data construction spending forecast.... Read More

Construction Spending Will Plunge If Weak GDP Outlook Is Correct

GDP growth was expected to be near 0.0% in the first half of the year according to the consensus outlook early in the year, then rise to 2% in the second half and rise further in 2009. The stall in the first half did not happen; GDP growth will be 1.5%+. Now there is no consensus on what happens next. Forecasts are split between a delayed stall later in the year with 1.0-1.5%% GDP growth next year and a progressive, if slow, recovery with GDP growth at a near... Read More

California Construction Midyear Update

In our January 2008 Construction Forecast, we wrote: It may not become the "perfect storm," but three "bad weather fronts" are headed toward California's construction industry in 2008 ...... Read More

Construction firms in administration soar

The number of construction and property firms falling into insolvency has risen 50% over the past 12 months.... Read More

Construction spending will plunge if weak GDP outlook is correct

GDP growth was expected to be near 0.0% in the first half of the year according to the consensus outlook early in the year, then rise to 2% in the second half and rise further in 2009. The stall in the first half did not happen; GDP growth will be 1.5%+. Now there is no consensus on what happens next. Forecasts are split between a delayed stall later in the year with 1.0-1.5%% GDP growth next year and a progressive, if slow, recovery with GDP growth at a near... Read More

Billion of Remodeling Dropped from Census Construction Spending Estimates

The Census Bureau has dropped approximately $50 billion/year of private residential remodeling spending for vacant, rental and second homes from its monthly estimates beginning in May. This is an acknowledgement that the estimates were of questionable reliability. But it is a problem for those who need measurement of the total market for construction materials, labor or equipment.... Read More

Housing Starts Down 36%, Numbers Show

Total housing starts are down 36 percent, according to figures released by the U.S. Department of Commerce. There is, however, a glimmer of hope.... Read More

Construction firms in administration soar

The number of construction and property firms falling into insolvency has risen 50% over the past 12 months.... Read More

Housing and the Economic Backlash

The most recent report from the Joint Center for Housing Studies of Harvard University finds that the housing downturn has been putting unprecedented pressure on the overall economy, and has exacerbated the stress of housing affordability. Take a look at the details from the Joint Center’s report.... Read More

House builder market may lose 75% of its value

Construction industry worries continue to gather pace. Plimsoll Analysis reports about a further 15,000 job losses and MTW Research says the house builder market may lose more than 75% of its value over a period to 2009. However self build and renovation experts BuildStore think that the credit crunch is having less of an [...]... Read More

Construction Outlook

The latest edition of the Construction Equipment Owner’s Podcast takes a look at the construction industry forecast for the remainder of 2008 and into 2009. Heather Jones, construction economist for FMIs Research Services, shares the findings of FMI’s Second Quarter 2008 Construction Outlook that points to construction for 2008 remaining much the same with the outlook for 2009 being revised down slightly because. Listen as Heather shares the indicators behind the forecast and provides some additional insights in to the non-residential segment. If you would like to receive the... Read More

Construction industry worries continue to gather pace

Construction industry worries continue to gather pace. Plimsoll Analysis reports about a further 15,000 job losses and MTW Research says the house builder market may lose more than 75% of its value over a period to 2009. However self build and renovation experts BuildStore think that the credit crunch is having less of an [...]... Read More

Non-Residential Construction Expected To Weaken in 2009

... Read More

Construction Starts Increase in June