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Business Services

FMI: Nonresidential Construction Index Bounces Back in Q2 Signaling Solid Recovery

Almost every component of the Nonresidential Construction Index moved in a positive direction in Q2 except the costs of labor and construction materials

May 23, 2016

The Nonresidential Construction Index (NRCI) score in 2016's Q2 has bounced back from 55.6 last quarter to 61.3. That is a solid recovery, and almost every component of the NRCI moved in a positive direction this quarter.

[SURVEY] Contractors Expecting More Big Business in 2016

Contractors surveyed during March and April of 2016 had taken stock of a strong business year in 2015 and had a good head start on forecasting 2016. Find out what they're expecting.

May 16, 2016

With most contractors reporting an above-average 2015, its significant that 53% of them anticipate growth again in 2016. Another 41% expect business to remain at what is very likely above-average levels.

ConstructConnect Provides Geo-targeted Data, Customized Analytics for Commercial Construction Industy

ConstructConnect is the combination of four legacy brands including BidClerk, Construction Data Company, Construction Market Data (CMD) and iSqFt

May 12, 2016

Number of Unfilled Construction Jobs Hits New Post-recession High

The number of unfilled construction jobs continues to rise as March had 17,000 more unfilled positions than February

May 12, 2016

The open position rate for March was 3%, a cycle high. The construction sector hiring rate was effectively unchanged in March at 4.9%. In contrast, the quits rate for construction increased significantly in March, rising to a 2.4% rate.

Construction Industry Only Adds 1,000 Jobs in April, Unemployment Still Drops to 6%

Nonresidential construction sector was the shining spot with 6,600 net new jobs for the month while residential specialty trade contractors lost 10,900

May 6, 2016

Nonresidential building employment expanded by 1,100 jobs in April and is up by 25,500 jobs or 3.5% on a year-over-year basis. Residential building construction employment expanded by 7,100 jobs in April and is up by 37,500 jobs or 5.4% on a year-ago basis.

Procore Construction Health Indicator: Construction Trends Remain Favorable

Increased backlogs combined with a positive US economic outlook implies many construction contractors will remain busy through 2017 and hopefully beyond

May 5, 2016

At the beginning of May, the Procore National Construction Industry Health Indicator currently stands just over 80 on a scale from 60 to 100.

March US Construction Spending Disappoints with 0.3% Rise

Strength in manufacturing and residential construction sustains private construction’s lead in returning construction spending to pre-recession range

May 2, 2016

The total value of U.S. construction put in place rose 0.3% in March to a seasonally adjusted annual rate of $1,137.5 billion, from an upwardly revised estimate of $1,133.6 billion in February. Overall construction spending rose 8.0% relative to a year earlier on the back of strong readings in private construction spending and public nonresidential.

Builder Confidence in Single-family Home Market Holding Firm Since February

NAHB is forecasting faster single-family construction growth for 2016 than the 10% gain recorded in 2015

April 18, 2016

“Builder confidence has held firm at 58 for three consecutive months, showing that the single-family housing sector continues to recover at a slow but consistent pace,” said NAHB Chairman Ed Brady.

FMI Forecasts 2016 Construction Growth at Slower 6% Rate

While the construction industry grew at an 11% growth rate in 2015, signs show the rate of growth slowing causing FMI to forecast a slower 6% growth rate for 2016

April 18, 2016

Construction will continue on a growth track largely due to improving consumer economic and physical health and a growing population demanding new technologies and housing.

Slipping Contractor Confidence Index Doesn’t Overshadow Economic Optimism

Construction executives may be somewhat less confident with near-term business prospects but optimistic for continued economic growth

April 14, 2016

All three components of the Construction Confidence Index showed optimism for continued economic growth with readings above 50.

Private Residential Construction Spending Continues Steady Growth

Single-family spending was up 10.6% annually while multifamily spending increased 24.2% compared to 2015

April 5, 2016

Single-family spending stood at $235 billion, up by 1.2% from last January estimate and 10.6% higher annually. Multifamily spending continued its strong growth and reached $59.7 billion, exceeding the January record of $59.2 billion. This was a 24.2% increase from the February 2015 estimate. Private construction spending on home improvements rose slightly to a seasonally adjusted annual rate of $153 billion, up to a steady 6% increase.

Machine Grade Control, GPS, Laser & Other

Divine Intervention: 6 Game-Changing Church Construction Trends Impacting Commercial Building Sector at Large

Emerging trends driving the bustling church building industry are carrying over to other facilities-construction verticals, including medical, education and retail

March 23, 2016

Marlton Assembly of God in New Jersey is a 49,000-sq.-ft. facility that includes an indoor soccer/lacrosse field, basketball court/gymnasium, atrium, youth center/child care, large conference/party rooms, kitchen and offices.

Mortenson Forecasts 3% to 4% Increase in Nonresidential Construction Costs

Structural steel and steel framing are just two components that could see cost increases of 3.5% to 4% this year

March 22, 2016

The Mortenson Construction Cost Index is calculated quarterly by pricing a representative nonresidential construction project in geographies throughout the country.

Business Services

Despite Labor Shortage Construction Industry Salaries Remain High

Average annual salaries for craft professions ranged from just over $47,000 to almost $89,000

March 10, 2016

Of the nearly 90 construction groups surveyed, average annual salaries for craft professions ranged from just over $47,000 to almost $89,000. Project managers and project supervisors topped the list, earning $88,675 and $77,917, respectively.

Commercial Construction Planning Lifts Dodge Momentum Index to a Third Month of Growth

A 1% pickup in commercial construction planning helped increase the total Dodge Momentum Index by 0.5% for its third consecutive month-to-month gain

March 8, 2016

While commercial planning activity is still below the levels present throughout much of 2015, it has made a moderate recovery following the decline witnessed in late 2015. Institutional planning, despite easing back in February, continues to be above last year’s levels due to the generally upward trend registered over the course of 2015.

January US Construction Spending Exceeds Expectations with 1.5% Rise

March 1, 2016

Total U.S. construction spending put in place rose 1.5% in January to a seasonally adjusted annual rate of $1,140.8 billion, rising more than 10% above January 2015 levels. Public spending jumped 4.5% during the month, while private spending rose just 0.5%, restrained by flat residential outlays.

Report: Construction Will Continue to Grow in 2016 at a Slower Pace

Education, industrial, commercial and retail sectors will be key to the continued but slower construction growth in 2016

February 29, 2016

“The construction industry is naturally cyclical and mirrors the effects of the stagnating global economy,” said Dana Westgren, Research Analyst, Project and Development Services, JLL Americas. “The most successful projects in 2016 and beyond will find a middle ground that offsets labor shortages and rapidly increasing glass prices with lower costs of steel and other construction materials caused by a low demand overseas.”

[VIDEO] Upbeat 2016 Rental Show Exceeding Many Expectations

Editor Jenny Lescohier recaps highlights from a Rental Show where rental professionals’ outlooks for the year are outdistancing softening 2016 construction forecasts

February 24, 2016

[VIDEO] Upbeat 2016 Rental Show Exceeding Many Expectations