Archinect - News

AIA/Deltek Architecture Billings Index remains flat in October, ending 20-month streak of declines

2024-11-20T12:31:00-05:00

The new AIA/Deltek Architecture Billings Index (ABI) for the month of October has recorded a flat (50.3) reading, ending its 20-month streak of consecutive declines. This score indicates a balance between the number of firms experiencing a decrease in billings and those seeing an increase, according to the AIA. Inquiries into new projects in October also picked up to their highest level in six months.

"Billings finally stabilized this month, and firms are feeling more optimistic about revenue projections for 2025," said the AIA's Chief Economist, Kermit Baker. "Overall, 41 percent of responding firm leaders expect to see net revenue growth from 2024 to 2025, with 32 percent projecting growth in the 5 percent to 9 percent range."

October ABI Highlights

Regional averages: Northeast (45.6); South (52.1); Midwest (46.9); West (47.6)
Sector index breakdown: institutional (50.5); multifamily residential (45.6); commercial/industrial (47.0); mixed practice (48.0)
Project inquiries index: 54...

Project Stress Index records slight improvements after September interest rate cuts

2024-11-15T14:45:00-05:00

The new ConstructionConnect Project Stress Index (PSI) composite reading for October has shown a mild improvement to 104.2, rising 0.8% for the month after a revised September reading of 103.4.

Compared to the same month one year ago, the composite is down 11.6%. This is the fourth consecutive month in a row for year-to-year contractions. However, ConstructionConnect's Chief Economist Michael Guckes tells us: "This year has been very good for the PSI, with year-to-date composite performance down 14.6%. If conditions continue at this level for the rest of the year, the PSI will arguably have its best year since 2021."

The total number of project abandonments, along with the number of on-hold projects, were both recorded as hitting new multi-year lows. Guckes says it is due largely to the preemptive anticipation of Federal Funds Rate (FFR) decreases, which have an impact of pr...

October's Dodge Momentum Index down 5.3% due to commercial sector losses

2024-11-07T15:36:00-05:00

The new Dodge Momentum Index (DMI) for the month of October has shown a decrease of 5.3% to a new score of 197.2. This is down from September’s revised reading of 208.2. Over the month, commercial planning fell 6.7%, and institutional planning declined 2.0%.

The declines were reflected in most commercial planning categories with hotels serving as the sole outlier. Education and public planning activity expanded the institutional side, which was offset slightly by weaker activity in healthcare, recreational, and religious projects. Overall, the DMI was 13% higher than in October of 2023.

"In addition to data center planning normalizing, a moderate pullback in the number of planning projects for several other nonresidential sectors also contributed to the decline in the Dodge Momentum Index for October," Sarah Martin, the associate director of forecasting at Dodge Construction Network, said. "Regardless, owners and developers remain confident in next year’s market conditions, and t...

September nonresidential construction spending bumped by 0.1%, led by infrastructure investments

2024-11-01T15:04:00-04:00

Nationwide nonresidential construction spending increased by 0.1% in the month of September, according to an Associated Builders and Contractors (ABC) analysis of recent U.S. Census Bureau data. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.22 trillion.

September's pending went up in half of the 16 nonresidential subcategories. Private nonresidential spending decreased 0.1%, while public nonresidential construction spending was up 0.4% in September.

Table credit: Associated Builders and Contractors

“Construction spending inched higher in September, with growth fueled by ongoing infrastructure investment,” ABC Chief Economist Anirban Basu said. “Spending accelerated in several publicly funded segments in September, including highway and street, sewage and waste disposal and water supply. The privately funded nonresidential construction segment didn’t perform as well for the month, with spending in that segment contracting for the second time in the past...

In a downturn, manage your clients, people, and cash, says former HOK CEO

2024-10-24T08:25:00-04:00

As Archinect reported earlier this week, the latest AIA/Deltek Architecture Billings Index shows that U.S. architectural business conditions remain turbulent. Billings have declined at firms for over one and a half years, according to the index, while our monthly Archinect State of AEC series has noted that the challenging conditions are spread across all U.S. geographical regions.

To find out how architects, particularly firm owners, can navigate the current downturn, we recently spoke with former HOK CEO and Chairman Patrick MacLeamy on the subject. Through his long career at HOK, and his book Designing a World-Class Architecture Firm: The People, Stories, and Strategies Behind HOK, MacLeamy has accumulated a wealth of knowledge on how firms can survive poor economic conditions.

As our feature article shows, a majority of MacLeamy’s advice for firms take place long before a downturn hits, underscoring the need for architects to adhere to healthy practice management principles so t...

Architecture business conditions worsened in September, says AIA/Deltek Architecture Billings Index

2024-10-23T11:47:00-04:00

The latest AIA/Deltek Architecture Billings Index has shown a continued decline in billings through last month. The September ABI remains at 45.7, where it also sat in August. Any score below 50.0 indicates a decline. The findings mark the twentieth consecutive month of declines in the ABI index.

“Despite recently announced rate cuts by the Federal Reserve, clients are still cautious about future projects,” the AIA notes about the latest figures. “Inquiries into potential new projects continued to increase, but the pace has slowed since the beginning of the year. And the value of newly signed design contracts at firms decreased for the sixth consecutive month in September, although the pace of that decline has moderated somewhat over the last few months.”

“However, firms continue to report average backlogs of 6.4 months, which remains above pre-pandemic historical averages and is a good indicator of existing work in the pipeline, even if new work coming in has slowed,” the AIA adds...

Cemex, Turner, Microsoft and others sign on to White House pledge to use clean construction materials

2024-10-21T12:32:00-04:00

The White House recently announced an update in its efforts to bolster clean construction in the United States. The update lists various public and private entities that have now committed to its three-year-old Federal Buy Clean Initiative. Some companies mentioned in the press release as signing on include Cemex, the Turner Construction Company, Amazon Web Services, and Microsoft. The City of Los Angeles, New York State, Washington State, and Michigan are among the five new participants in the Federal-State Buy Clean Partnership.

New York City is also expected to begin requiring environmental product declarations for concrete and steel products, according to the website POLITICO E&E News. The White House says to date, the federal government has deployed some $4.5 billion from the Inflation Reduction Act to support the Initiative.

Construction starts fall 6% in September, following two consecutive months of gains

2024-10-18T14:58:00-04:00

The total number of construction starts fell by 6% in September, resulting in a seasonally adjusted annual rate of $1.1 trillion, according to Dodge Construction Network’s latest Construction Starts Index. Nonbuilding starts fell 11%, residential starts decreased by 1%, and nonresidential building starts were down 6%.

On a year-to-date basis through September, total construction starts were up 2% from the same period in 2023. Residential starts were up 7%, nonresidential buildings rose 2%, and nonbuilding starts fell 3%. For the 12 months ending September 2024, total construction starts were up 1% from the 12 months ending September 2023. Residential starts were up 6%, nonresidential building starts were unchanged, and nonbuilding starts decreased by 4% on a 12-month rolling sum basis.

“Construction starts are treading water,” said Dodge Construction Network chief economist, Richard Branch. “September’s rate cut was just the first step in unwinding a period of high rates and severa...

Crane count in U.S. cities largely held steady this year

2024-10-15T06:00:00-04:00

Rider Levett Bucknall’s (RLB) latest crane count index report for North America has shown a slight decrease from its previous edition. The latest data, covering Q3 2024, reports a slight decrease of 5% from Q1 2024.

Fourteen cities were surveyed for the study, with four experiencing a decrease of greater than 20%, seven increasing their count, and three holding steady.

The cities to see an increase in crane counts were Calgary, Chicago, Honolulu, Las Vegas, Phoenix, Toronto, and Washington D.C. while Denver, Los Angeles, and New York City’s crane count held steady. Boston, Portland, San Francisco, and Seattle say a decrease in crane count.

“The mixed-use sector continues to dominate crane activity, reflecting strong demand for diverse developments,” RLB said about the latest study. “Major projects in sectors such as healthcare, education, and infrastructure are driving significant investment and construction efforts. Despite challenges of high office vacancy rates in certain areas, ...

September's Dodge Momentum Index drops 4% following three straight months of growth

2024-10-07T17:40:00-04:00

The latest Dodge Momentum Index (DMI) figures for September have shown decreases equal to a 4% drop to a new sore of 208.6 after a revised August reading of 217.7.

For the month, commercial planning contracted by 7.8% and institutional planning improved by 5.2%. The new DMI was 21% higher than in September of 2023. Planning in the commercial segment was up 31% from year-ago levels, while the institutional sector was up 4% over the same period.

"Despite this month’s decline, the Dodge Momentum Index remains at very robust levels," Sarah Martin, the associate director of forecasting at the Dodge Construction Network said in a statement. "A surge in data center activity drove much of the recent rapid growth in the DMI – so as planning for that sector moderated over the month, overall commercial planning fell back. By mid-2025, the Fed’s rate cuts should spur planning projects to reach groundbreaking more quickly – leading to stronger nonresidential activity as 2025 progresses."

The l...

Construction tech start-up sends AI-powered "micro-factories" to the US to build affordable housing

2024-10-04T17:57:00-04:00

British construction tech start-up Automated Architecture (AUAR) is sending two of its pop-up, robotic micro-factories to the U.S. for the first time in a move to bring automated and affordable house building to North America.

Founded in 2019, AUAR functions by licensing its technology to builders and contractors to build low-energy homes at the price of normal homes, at scale.

Related on Archinect: Where Are All The Affordable Housing Startups?. Image credit: Katerra

The micro-factories will be deployed by real estate development and construction firm Rival Holdings, which aims to address the ongoing housing crisis by building thousands of sustainable, affordable, and high-quality homes across the Midwest. The partnership between Rival Holdings and AUAR was announced in March.

“We are really excited to partner with Rival Holdings to bring our cutting-edge Robotic Micro-factories to the United States,” said Co-Founder and CEO of AUAR, Mollie Claypool. “This partnership is our first ...

Nonresidential construction spending jumps 0.1% for August

2024-10-01T13:54:00-04:00

The latest Associated Builders and Contractors (ABC) analysis of U.S. Census Bureau data on nonresidential construction spending has shown a slight 0.1% increase for the month of August.

On a seasonally adjusted annualized basis, nonresidential spending totaled $1.22 trillion. Private nonresidential spending decreased 0.1%, while public nonresidential construction spending was up by 0.3%.

"Nonresidential construction spending inched higher in August, and that’s almost entirely due to ongoing infrastructure investments," said ABC Chief Economist Anirban Basu.

Table credit: Associated Builders and Contractors

"Public spending accounted for all of the nonresidential segment’s monthly increase and has risen nearly 8% over the past year, significantly outpacing privately financed nonresidential construction activity," Basu's statement continued. "As a result of ongoing weakness in certain private subsegments, ABC’s Construction Backlog Indicator has fallen by a full month over the past y...

Multifamily projects took 19.9 months on average to complete in 2023

2024-09-30T18:50:00-04:00

A new report from the National Association of Home Builders has shown the average length of time it takes to complete construction of a multifamily dwelling was 19.9 months in 2023.

The NAHB findings draw from the 2023 Survey of Construction (SOC) from the U.S. Census Bureau, which also notes that buildings of more than 20 units took a longer (22 months) time on average to complete. (Projects of the same size took an average of 19 months to complete before the pandemic.)

Some potential factors could be lagging supply chain issues and lack of construction labor nationwide. According to data from the latest Census Bureau report on the housing market, "Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1,788,000."

The reporting can be compared to the latest Dodge Construction Network construction starts data here.

Construction starts rise 6% in August, San Francisco International Airport T3 expansion leads with the highest project value

2024-09-24T14:19:00-04:00

The number of construction starts nationwide climbed 6% to a seasonally adjusted rate of $1.2 trillion in August, according to the latest data from the Dodge Construction Network (DCN). For the month, residential starts rose 5%, nonbuilding starts were up by 17%, and nonresidential buildings fell by 2%.

On a year-to-date basis through August, total construction starts were up 4% from the first eight months of 2023. Residential starts were up 8%, nonresidential buildings 3%. Total nonbuilding starts were down 1%. The total number of construction starts was up 2% from the 12 months ending August 2023. Residential starts were up 6% compared to the same year, while nonresidential building and nonbuilding starts each went up by 1% on a 12-month rolling sum basis.

"Construction starts continue to move forward at a modest pace," DCN chief economist Richard Branch said. "Now that the Federal Reserve has begun to lower rates the construction sector should begin to feel relief. The Dodge M...

AIA/Deltek Architecture Billings Index drops again in August for 19th consecutive month

2024-09-18T12:10:00-04:00

The newest AIA/Deltek Architecture Billings Index reporting has shown a continued stasis of weak conditions for firms nationally. The August ABI is now 45.7, down from the 48.2 figure that was recorded for July (any score below 50.0 indicates a decline). This is now the nineteenth consecutive month of declines in the ABI index.

"Unfortunately, even the impending interest rate cuts didn’t move the needle on project inquiries or new design contracts at architecture firms. Hopefully, once the trajectory of further cuts gets clarified, delayed projects will restart, and new projects will gather momentum," the AIA’s Chief Economist Kermit Baker says of the findings:

August ABI Highlights

Regional averages: Northeast (48.2); South (46.8); Midwest (46.6); West (45.7)
Sector index breakdown: mixed practice (firms that do not have at least half of their billings in any one other category) (48.6); institutional (47.4); commercial/industrial (46.6); multifamily residential (44.0)
Project inqui...

Dodge Momentum Index continues to climb with 2.9% jump in August

2024-09-11T11:00:00-04:00

The Dodge Momentum Index (DMI) for August reports a 2.9% increase to a new score of 220.4 following July’s revised total of 214.2. Over the month, commercial planning expanded by 1.9%, and institutional planning was up another 5.7%.

"Owners and developers continued to prime the planning queue in August, ahead of next year’s anticipated stronger market conditions," Sarah Martin, the associate director of forecasting at Dodge Construction Network, said. "With the Fed’s September rate cut all but finalized, the influence of selective lending standards and inflation should moderate next year, alongside a modest upgrade to consumer demand. As a result, stronger planning activity was widespread in August, with most nonresidential sectors seeing growth."

The commercial planning sector was led again by data center and warehouse projects, while on the institutional side, healthcare projects continued to be a primary driver.

Related on Archinect: Architecture's Interest Rate Prayers Answer...

Nonresidential construction spending drops 0.2% in July

2024-09-03T14:51:00-04:00

Nonresidential construction spending for July fell slightly by 0.2%, according to the latest Associated Builders and Contractors analysis of U.S. Census Bureau data published today.

On a seasonally adjusted annualized basis, nonresidential spending is now worth a total of $1.21 trillion. Private nonresidential spending decreased by 0.4%, while public nonresidential construction spending was up 0.2% in July.

Table credit: Associated Builders and Contractors

"Nonresidential construction spending declined for the second consecutive month in July but remains just 0.4% below the all-time high established in May," stated ABC Chief Economist Anirban Basu. "While Hurricane Beryl, which interrupted construction activity along the Gulf Coast in early July, contributed to the month’s weak construction spending data, the cumulative effect of high interest rates likely bears more blame. This is particularly true for nonresidential spending in the private sector, which fell 0.4% for the month and ...

Construction starts rise 10% in July, propelled by gains in nonresidential building and infrastructure

2024-08-26T13:03:00-04:00

Construction starts have risen 10% for the month of July to a new seasonally-adjusted rate of $1.1 trillion, according to the latest data published by Dodge Construction Network (DCN). For the month, nonresidential buildings rose 25% and infrastructure starts were shown to increase by 19% as starts in the residential construction sector fell by 8%.

This reverses June’s 19% decline. On a year-to-date basis through the end of July, total construction starts were up 6% from the first seven months of 2023. Residential starts rose 11%, nonresidential buildings were up by 5%, and starts for nonbuildings remained flat.

For the 12 months ending July 2024, total construction starts were up 3% from the 12 months ending July 2023. Nonresidential building starts were down 1%, residential starts were up 7%, and nonbuilding starts were up 5% on a 12-month rolling sum basis.

“Construction starts show...

July's Architecture Billings Index remains depressed as decline rates slow

2024-08-21T11:56:00-04:00

The latest AIA/Deltek Architecture Billings Index (ABI) for July has shown a continued state of soft business conditions at firms across the country, with a score of 48.2. This constitutes fewer reported declines and a minor improvement over June’s score of 46.4. Contracts decreased for the fourth consecutive month while, conversely, the rate of decline has slowed. The AIA notes that inquiries into new projects have also increased, albeit at a continued slow pace.

"Architecture firms continue to face a billings slowdown,” Kermit Baker, the Chief Economist for the AIA, states. “However, the emerging prospects of lower interest rates coupled with a modest uptick in project inquiries suggest that some dormant projects may be revived in the coming months.”

The question of interest rates factored heavily into our recent Archinect Business Survey. Notably, firms in the Northeast U.S. experienced sta...

July sees sharp improvement in project conditions as interest rates are expected to fall

2024-08-19T16:29:00-04:00

ConstructConnect’s Project Stress Index reading for July has experienced a sharp decline of 14.2% and is now at 96.2, following June’s revised reading of 112.5. Compared to levels from a year ago, the Index has fallen 6.1%.

Last month saw decreases across all stress components, with abandonment activity experiencing the most severe monthly decline, which was a 24% fall. This was followed by an 11% dip in on-hold activity and delayed bid activity, which fell 6.8%.

ConstructConnect attributes the abrupt and steep shift to an anticipated reduction of interest rates by the Federal Reserve.

As said by ConstructConnect Chief Economist Michael Guckes, “If owners and developers believe they need only wait a few more weeks—or just a few months at worst—for lower interest rates, then they would be correct in thinking that now is not the time to abandon or put projects on hold. Why abandon a project now if, in just a few weeks, falling commercial real estate mortgage rates will make that proje...

Construction input prices up again by 0.4% in July

2024-08-14T15:17:00-04:00

Nationwide, construction input prices increased by 0.4% in July, according to a new analysis of the U.S. Bureau of Labor Statistics Producer Price Index by Associated Builders and Contractors (ABC). Nonresidential construction input prices also increased 0.4% for the month. Overall, construction input prices are 1.1% higher than they were a year ago, and nonresidential construction input prices are another 0.8% higher.

This ends a two-month streak of consecutive declines following six straight months of increases to begin 2024. "Despite the monthly uptick, which was largely driven by higher petroleum and natural gas prices, input prices are up just 1.1% year over year," ABC Chief Economist Anirban Basu stated.

Chart credit: Associated Builders and Contractors

"The lack of materials price escalation over the past 12 months is a welcome development for contractors, just 34% of whom expect their profit margins to expand over the next six months, according to ABC’s Construction Confidenc...

EPA presents 'buy clean' label program for green construction materials

2024-08-13T20:31:00-04:00

The Environmental Protection Agency has published details of a new label program aimed at increasing the amount and quality of more sustainable U.S.-made construction materials in the marketplace. It supports the agency’s new $160 million grant initiative to spearhead new Environmental Product Declarations (EPDs). The labels will add a formal definition of what constitutes “clean” construction materials in support also of the Biden Administration’s Federal Buy Clean Initiative, which was first formed in February of 2022.

Specifically, the EPA says the program will "prioritize steel, glass, asphalt, and concrete, as there are significant opportunities to reduce climate pollution from these materials, and they represent the vast majority of construction materials and products that government agencies purchase with federal funds."

An associated list of supporting documents, including EPD development guidelines, is available here.

Apartment construction remains at 50-year high in 2024

2024-08-12T17:15:00-04:00

This year will be the first year in U.S. history that more than 500,000 new apartments are constructed, according to a new analysis of the 2024 rental market from RentCafe.

The trend, which is anticipated to abate slightly in 2025, may again resurface by 2028 with exceptions remaining in markets such as Minneapolis and Houston.

Topping the list was the greater New York metro area with 32,935 new units despite the city having permitted its lowest number of new apartments since 2016 last year. Dallas followed closely in second place, with booming Austin, Texas, finishing a distant third. Housing efforts there have struggled to keep pace after demand began to rapidly increase in 2020.

Phoenix came in fourth on the list with 20,141 new units, giving a face to the effects of the construction loophole underpinning its population boom in the face of questions surrounding water scarcity. (Paradoxically, as RentCafe points out, “[a] shift towards sustainability could be one of the reasons...

Hotel construction is at an all-time high, new report states

2024-08-08T12:44:00-04:00

The hospitality industry group Lodging Econometrics has released its new prospectus of hotel projects in the construction and planning pipelines, indicating a new all-time high for the growing sector. At the end of Q2, 1,171 projects were reportedly under construction across the U.S. Another 2,350 projects are expected to start construction in the next 12 months, and 250 were reported to have opened in the first two quarters of 2024 alone.

The group also "expects that as interest rates begin to decline, projects scheduled to start in the next 12 months will move to under construction rather quickly." This may be a good sign for nonresidential and non-commercial projects in different markets, as the Construction Starts Index has experienced considerable volatility for over a year.

Looking forward, the new report states: "The LE forecast for the remainder of 2024 includes the ope...

Dodge Momentum Index continues encouraging trajectory with 8% growth in July

2024-08-07T20:00:00-04:00

The Dodge Momentum Index (DMI) for July has improved for the second consecutive month, recording a 7.9% increase to a new score of 216.3. This follows June’s revised increase to 200.5. For the month, commercial planning grew by 6.8%, and institutional planning gained 11.1%.

"While data centers have had an outsized influence on nonresidential planning activity in recent months, more momentum is building across many other major sectors and diversifying the story behind July’s growth," Sarah Martin, Associate Director of Forecasting at Dodge Construction Network, commented. "The potential Fed rate cut in September is becoming increasingly more likely, alongside slower inflation and weaker labor market conditions. This is likely driving owners and developers to remain optimistic about 2025 market conditions and pushing more projects into the planning queue."

The acceleration of data centers nationwide continued to play an important role, as did healthcare facilities. The new DMI is 17% ...

Nonresidential construction spending falls for third consecutive month

2024-08-02T13:29:00-04:00

Nonresidential construction spending dipped 0.2% nationwide in June, according to the latest Associated Builders and Contractors analysis of data published by the U.S. Census Bureau.

On a seasonally adjusted annualized basis, nonresidential spending totaled $1.21 trillion, with nonresidential construction expanding 5.3% from a year ago. Spending decreased on a monthly basis in 7 of the 16 nonresidential subcategories. Private nonresidential spending fell 0.1% in June, while public nonresidential construction spending was down 0.4%.

Table credit: Associated Builders and Contractors

“A new trend in nonresidential construction is emerging, and it’s not a good thing,” said ABC Chief Economist Anirban Basu. “Despite a bevy of megaprojects in certain parts of the nation, overall nonresidential construction spending appears to have entered a period of stagnation. The flattening of momentum has been apparent for the better part of a year, but the impact of higher interest rates, tighter cr...

Construction starts fall 19% in June, driven by stark decline in utility/gas activity

2024-07-24T15:01:00-04:00

The total number of construction starts fell by 19% in June, which resulted in a seasonally adjusted annual rate of $1.0 trillion, according to Dodge Construction Network’s latest Construction Starts Index.

Nonbuilding starts dipped 46%, and nonresidential starts decreased by 13%. Residential starts, on the other hand, rose 9%. On a year-to-date basis through June, total construction starts were up 7% from the same period in 2023. Residential starts were up 14%, nonbuilding starts gained 8%, and nonresidential building starts rose 1%.

June’s decline is attributed to a stark dip in utility/gas starts following a high level of activity in May, in which a Liquified Natural Gas plant and an offshore wind project got underway. As a result, gas/utility plants fell 90% over the month.

“The construction market remains sluggish as high interest rates continue to reverberate through the sector,” sa...

June Architecture Billings Index remains down despite slight improvement

2024-07-24T13:41:00-04:00

The latest AIA/Deltek Architecture Billings Index (ABI) for June has indicated a continuation of soft business conditions for firms, with a new recorded score of 46.4 (any score below 50 indicates a decline).

The number is slightly higher than May's score of 42.4, which represented a new post-pandemic low. The June data is augmented by other reported economic facts, including that the project pipeline is at its lowest point in three years (6.4 months on average).

"Architecture firms continue to face a period of headwinds in the construction sector, driven by elevated interest rates, high construction costs, and generally weak property values," AIA Chief Economist Kermit Baker commented on the June ABI. "This is the seventeenth consecutive month of a billings decrease, and yet, despite the softness, firms remain generally optimistic that conditions will start to improve once interest rates begin to ease."

Architects may soon get easier access to low-carbon construction materials, following $160M EPA grant initiative

2024-07-19T16:04:00-04:00

The U.S. Environmental Protection Agency has announced a new round of grants worth nearly $160 million to support the clean manufacturing of domestically produced construction materials.

The funds are being distributed to 38 entities, including the University of Massachusetts Amherst, Massachusetts Institute of Technology, the University of Texas at Austin, and nine other institutions of higher learning. Holcim’s U.S. operation, the American Wood Council, the Hemp Building Institute, and the International Living Future Institute are also included on the list of grantees, among others. The grants range up to $10 million in total.

The grants are meant to support the Biden Administration’s Federal Buy Clean Initiative, whose task force issued first recommendations for low-carbon construction materials in September 2022. They will be used by each entity in order to develop Environmental Product Declarations (or EPDs), a data-driven consumer label that helps architects make decisions o...

Project Stress Index reading for June sees 1.5% increase, driven by project abandonments

2024-07-16T18:39:00-04:00

ConstructConnect’s latest Project Stress Index (PSI) reading, which measures the level of non-residential projects that have experienced a delayed bid date, being placed on hold, or being abandoned, for June 2024 is up 1.5% from May. The figure of 112.7 is up 9% from June 2023.

As reported by Construction Dive, project abandonments increased by 10.7%, delayed bid activity saw no change, and work put on hold fell 6.6% over the past month. Since mid-May, weekly and monthly readings have roughly hovered between 110 and 113, which indicates that current levels of project stress are only slightly more than 10% above the average level recorded during the 2021 calendar year.

“Among abandoned projects, it is very possible that this number is being fueled by only a few severely impacted subcategories,” said Michael Guckes, chief economist at ConstructConnect, to Construction Dive. “Chief among suspects are private offices which continue to gravely struggle against current financial market c...

Archinect - News

AIA/Deltek Architecture Billings Index remains flat in October, ending 20-month streak of declines

Project Stress Index records slight improvements after September interest rate cuts

October's Dodge Momentum Index down 5.3% due to commercial sector losses

September nonresidential construction spending bumped by 0.1%, led by infrastructure investments

In a downturn, manage your clients, people, and cash, says former HOK CEO

Architecture business conditions worsened in September, says AIA/Deltek Architecture Billings Index

Cemex, Turner, Microsoft and others sign on to White House pledge to use clean construction materials

Construction starts fall 6% in September, following two consecutive months of gains

Crane count in U.S. cities largely held steady this year

September's Dodge Momentum Index drops 4% following three straight months of growth

Construction tech start-up sends AI-powered "micro-factories" to the US to build affordable housing

Nonresidential construction spending jumps 0.1% for August

Multifamily projects took 19.9 months on average to complete in 2023

Construction starts rise 6% in August, San Francisco International Airport T3 expansion leads with the highest project value

AIA/Deltek Architecture Billings Index drops again in August for 19th consecutive month

Dodge Momentum Index continues to climb with 2.9% jump in August

Nonresidential construction spending drops 0.2% in July

Construction starts rise 10% in July, propelled by gains in nonresidential building and infrastructure

July's Architecture Billings Index remains depressed as decline rates slow

July sees sharp improvement in project conditions as interest rates are expected to fall

Construction input prices up again by 0.4% in July

EPA presents 'buy clean' label program for green construction materials

Apartment construction remains at 50-year high in 2024

Hotel construction is at an all-time high, new report states

Dodge Momentum Index continues encouraging trajectory with 8% growth in July

Nonresidential construction spending falls for third consecutive month

Construction starts fall 19% in June, driven by stark decline in utility/gas activity

June Architecture Billings Index remains down despite slight improvement

Architects may soon get easier access to low-carbon​ construction materials, following $160M EPA grant initiative

Project Stress Index reading for June sees 1.5% increase, driven by project abandonments

Architects may soon get easier access to low-carbon construction materials, following $160M EPA grant initiative