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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%... View full entry
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... View full entry
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... View full entry
Spending on nonresidential construction is projected to increase over the remainder of the year before taking a step back in 2025, according to the AIA’s updated Consensus Construction Forecast for mid-2024. The report says construction of new commercial facilities effectively will remain flat... View full entry
Construction input prices fell by 0.3% in June, according to the latest Associated Builders and Contractors (ABC) analysis of the U.S. Bureau of Labor Statistics' Producer Price Index. For the month, Nonresidential construction input prices declined by 0.4%. Overall construction input prices are... View full entry
When we asked architects in our recent Archinect Business Survey about their economic outlook, one of the five big factors behind the architecture industry’s current economic slowdown mentioned most frequently by participants was high construction costs. "Construction costs are exceeding... View full entry
The Dodge Momentum Index (DMI) increased by 10.4% in June to a new score of 198.6, according to new data from Dodge Construction Network. The latest numbers are up considerably from the revised May reading of 179.9. Over the month, commercial planning increased 14.5%, and institutional planning... View full entry
Spending on nonresidential construction nationwide fell 0.1% in May, according to a newly released Associated Builders and Contractors analysis of U.S. Census Bureau data on the industry. On a seasonally adjusted annualized basis, nonresidential spending now totals $1.21 trillion. Spending... View full entry
The latest economic data revealed by the new AIA/Deltek Architecture Billings Index for May has indicated a sharp decline to a score of 42.4, representing a new low point for the index after a year and a half of weak performances. "The decline in the May ABI score continues a year and a half of... View full entry
The total number of construction starts increased by 10% in May, according to data in Dodge Construction Network’s latest Construction Starts Index. Nonbuilding starts increased by 49%, while residential starts fell 7% and nonresidential building starts went down 2%. On a year-to-date basis... View full entry
New analytic reporting on U.S. Bureau of Labor Statistics Producer Price Index data for May from the Associated Builders and Contractors (ABC) has documented an overall 0.9% decrease in construction input prices. For the month, nonresidential construction input prices fell by 0.8%. Overall... View full entry
In a new analysis of U.S. Census Bureau data by the Associated Builders and Contractors, national nonresidential construction spending decreased 0.3% in April to a seasonally adjusted total of $1.20 trillion. It follows March's slight increase of 0.2%. Spending fell on a monthly basis in 10 of the... View full entry
The total number of construction starts in America rose 6% to a seasonally adjusted rate of $1.13 trillion for April, according to the latest data in Dodge Construction Network’s monthly reporting. For the month, nonresidential building starts gained 17%. The number of nonbuilding starts was 4%... View full entry
The new AIA/Deltek Architecture Billings Index (ABI) for April has reported a new score of 48.3, indicating a continued decrease in economic activity while posting an improvement over March’s previously reported total of 43.6. For the month, inquiries into new projects continued to increase... View full entry
British multinational design and engineering company behind world-famous buildings such as the Sydney Opera House has confirmed that it was the target of a deepfake scam that led to one of its Hong Kong employees paying out $25 million to fraudsters.
A spokesperson for London-based Arup told CNN on Friday that it notified Hong Kong police in January about the fraud incident, and confirmed that fake voices and images were used.
— CNN
“Our financial stability and business operations were not affected and none of our internal systems were compromised,” an Arup spokesperson told CNN. The employee in question was apparently misled into believing they were in a video conference with senior finance staffers that were in reality... View full entry