Gilbane Forecasts 9.7% Construction Spending Growth in 2016

Nonresidential buildings construction expected to leap 13.7% in the coming year, helping propel total construction spending to 30% growth over the three years from 2014 to 2016

February 9, 2016

Gilbane

From the middle of Q1 2016 to the end of Q3 2016, construction spending will register an annual growth rate of 20%, but due to the dips at the beginning and the end of the year 2016, total construction spending growth will come in at 10%.

From the middle of Q1 2016 to the end of Q3 2016, construction spending will register an annual growth rate of 20%, but due to the dips at the beginning and the end of the year 2016, total construction spending growth will come in at 10%.

Construction spending may reach historic growth in 2016. We are currently near the most active three-year period of construction growth in more than 20 years, and it has been going on since 2013.

In its January 2016 Construction Economic Report, Gilbane forecasts total construction spending will increase 9.7% in 2016. Spending could reach a total 30% growth for the three years from 2014 to 2016. The only comparable periods in the last 20 years are 29% from 2003 to 2005 and 27% from 2013 to 2015.

Nonresidential buildings spending is forecast to grow 13.7% in 2016 and the three-year total growth could reach 40% for 2014 to 2016. The only comparable growth periods in the last 20 years are 40% in 2006 to 2008 and 32% from 1995 to 1997.

Click here to download the complete report

White Cap has also acquired Crimson Steel Supply, LLC (Crimson Steel), a distributor and fabricator of engineered steel rebar and structural steel products serving non-residential and infrastructure end markets.

White Cap Expands Reach in Oklahoma, Oregon

White Cap has acquired Bend Construction - a supplier of struts, fasteners, anchors, and concrete accessories and products - and Crimson Steel - a distributor and fabricator of engineered steel rebar and structural steel products.

The Port of Baltimore is used by many of the largest construction machinery manufacturers.

Construction Supply Chain and the Baltimore Bridge Collapse

How much will construction and other supply chains be impacted by the collapse of the Baltimore Bridge and the suspension of traffic through the Port of Baltimore? End users may temporarily face delays and increases.

Emerging technologies and advancements including visual intelligence, sensors, Internet of Things (IoT) devices, robotics, immersive collaboration and 3D printing are surging in popularity among contractors and construction professionals.

Construction Trends for 2024

While the industry will continue to go through transformation like many others, those willing to marry the fundamentals of the craft with new technology and sustainable building methods can continue to experience great success in 2024 and beyond.

Canadian-based tech company Mercator AI has announced it is expanding into the U.S., starting with Texas.

Construction AI Tool Expands to US

Mercator AI, the AI-powered business development tool for commercial general contractors, announced its expansion into Texas.

Tenna

Tenna, Boom & Bucket Partner on Integration for Equipment Valuations

The strategic partnership and integration aims to enhance a construction business’ ability to manage the lifecycle of their owned fleet.

Preliminary net trailer orders decreased nominally from February to March.

Trailer Orders Down 24% YoY

Industry experts expect truck trailer orders to face a year of transition.

Fires. Tornadoes. Water damage. All of these disasters, and other unexpected events, often lead to large property losses that can devastate businesses.

3 Tips for Managing Economic Risks on Construction Projects

While you can’t eliminate risk entirely, you can take steps to help reduce it, avoid it and protect against it.

Worker safety is an area where confirmation bias can have the most disastrous effects, exposing workers all types of potential dangers.

Overcoming Confirmation Bias in Construction Project Management

Confirmation bias can be particularly problematic in project and schedule management, where decisions must be based on accurate and comprehensive information.

The awards will be presented at the 2024 ASCC Annual Conference scheduled to take place Sept. 18–21.

ASCC Opens Annual International Decorative Concrete Council Awards Program

The Sixteenth Annual International Decorative Concrete Council Awards program for 2024 recognizes and celebrates exceptional decorative concrete projects from around the globe.

Specific details regarding the actual price change will be communicated directly to customers by Trelleborg tires representatives in each market.

Trelleborg Tires to Implement Price Increases

Trelleborg tires will increase prices globally by up to 5% across all segments.

When a prospective site can be made suitable for building by extending utilities (such as water, electricity or gas lines) or infrastructure (such as paving or rail services), funding may be available to offset these costs.

Jobsite Due Diligence Can Prevent Costly Delays

Good building sites remain on the market. But many of those sites must be made good with early planning and intervention.

Progress included the removal of a 156-ton piece of Span 19 outside of the navigational channel, which was hoisted and loaded onto a barge and taken to Sparrows Point, Md., for future disposal.

Baltimore Crews Remove 156-ton Piece of Key Bridge

Progress included the removal of a 156-ton piece of Span 19 outside of the navigational channel, which was hoisted and loaded onto a barge for future disposal. Container removal from Dali has begun.

How Home-based Drug Deactivation and Disposal Saves Lives

Opioids in Construction: How Home-based Drug Deactivation & Disposal Saves Lives

Whether used by children or adults, excess medications in the household are a huge threat. Eliminating unused medications should be a top priority. Your employees should know that this is important to you as an employer.

Under the federal Occupational Safety and Health Act (OSH Act), employers have a duty to monitor worksites and prevent hazardous conditions from developing. As it does with other major industry sectors, OSHA issues specific regulations targeting the safety risks unique to the construction sector.

What Artificial Intelligence Means for the Construction Workplace

When integrating AI into their business models, construction companies should carefully weigh the costs and benefits of this technology.

The concept adaptive reuse is the practice of repurposing abandoned, older structures for a different purpose than what they were originally intended for with the express purpose of extending the building’s life.

Commercial Building Reuse in the Work-From-Home Economy

As the American workplace adapts, the traditional 9-5 will likely continue to become less common. What does that mean for landlocked employers staring down half-empty offices?

Customer Service 10860910

Exceptional Customer Service Starts with Confidence

Customers want to know that the employee they are working with is confident and will be able to serve them in a professional manner.

James Howe.

Howe Named President of Motion Industries

James F. Howe has been named to the position of president of Motion.

Photo Apr 14 2023, 13 34 49

Why Aegis Asphalt Has A Bright Business Future

Out in the Pacific Northwest of the United States, the weather is against you, the time is against you, and in the case of Aegis Asphalt Construction, they've had to start from the literal ground up, growing the business by leaps and bounds.

Mary Aufdemberg, general manager, product strategy and market development, Daimler Trucks North America, delivers the keynote address at the 2024 Green Truck Summit.

EV Limitations Addressed at Work Truck Week

Trends point to more power in partnerships as the electrification journey continues for many OEMs in the commercial vehicle market.

A working construction site.

Mental Health Options for Construction Workers

If you don’t have mental health support for your workers right now, start the conversation.

As AI continues to reshape construction industry tools and processes, a parallel phenomenon unfolds–the race to construct AI data centers.

How to Embrace AI in a Tech-averse Construction Industry

The need for collaborative dialogue, ethical oversight, and responsible innovation is paramount to harnessing the benefits of AI while mitigating its risks.

While cranes play a vital role in the transportation, construction, and agriculture industries, among others, operating this type of equipment can be especially dangerous if proper protocol is not followed.

Crane Safety Report Published

As the crane industry continues to navigate major safety challenges, NSC and the NCCCO Foundation plan to continue to provide additional resources to educate crane operators, inspectors, and employers about potential workplace hazards.

JA Mitsui Leasing has announced that it has acquired a 100% interest in Oakmont Capital Holdings.

JA Mitsui Leasing Buys Oakmont Capital

JA Mitsui Leasing announced today that it has acquired a 100% interest in Oakmont Capital Holdings.

Don Harvell.

LBX's Harvell to Retire

As Don Harvell retires, others at the company, such as Kevin Roberts and Chris Wise, take on new roles at LBX.

Baltimore Bridge 040424

Key Bridge Efforts Continue Despite Storms

Trained crews, in conjunction with the Unified Command, are taking steps forward with operations and are conducting routine salvage assessments, while evaluating the safest and most effective routes.

Many construction workers say they find it distracting to work alongside drones, and there’s evidence that even when drones are operating at a considerable distance from humans they often lead workers to look away from their tasks.

Robots are Rewriting the Rules of Construction Safety

To make worksites safer for humans, we need a smarter approach to automation.

Whether it's support with succession planning or effective people management, its experts are uniquely positioned to skillfully guide contractors in harmonizing their personal, operational, and financial strategies.

Performance Construction to Focus on Contractor Community

With a shift to exclusively serving contractors, PCA’s Business Consulting services offer even more specialized guidance for its clients.