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According to a new Dodge Construction Network report, total construction starts rose 8% in October to a seasonally adjusted annual rate of $1.12 trillion. This is a rebound following two consecutive months of decline. Last month, nonresidential building starts gained 9% and nonbuilding starts... View full entry
The Dodge Construction Network has produced a forecast for the U.S. construction sector for 2023, in which it signals a slowdown across many typologies. Overall, the dollar value of construction starts will be $1.08 trillion, which, though unchanged from 2022, represents a 3% dip when adjusted for... View full entry
Construction staffing has nearly climbed out of the pandemic-induced hole. [...] construction reached 99% of pre COVID-19 numbers, according to an analysis of Bureau of Labor Statistics numbers.
Contractors added 60,000 new employees last month, Associated Builders and Contractors reported, boosting total employment in the industry to 7.6 million. That’s the highest staffing level since COVID-19 drove one million workers off site in April 2020.
— Construction Dive
“Evidence indicates that contractors have had a somewhat easier time filling available positions recently,” Associated Builders and Contractors Chief Economist Anirban said in a March statement. “There are also indications that supply chain issues have improved slightly, though the... View full entry
Design projects involving the renovation, rehabilitation, extension, or preservation of existing buildings account for 48% of billings at U.S. architecture firms according to an AIA survey. The findings, which form part of the 2022 AIA Firm Survey: The Business of Architecture, continues a trend... View full entry
The Dodge Momentum Index (DMI) continued to steadily rise in October, with a 9.6% boost to 199.7 from the revised September reading of 182.2. This increase was driven by a 13% and a 2.9% rise in the commercial building and institutional building components, respectively. As detailed by Dodge... View full entry
Construction spending in New York City will reach an all-time high of $86 billion this year, up $38 billion from 2021, according to a new report from the New York Building Congress.
The report finds that despite numerous obstacles from the pandemic and economic uncertainty, construction spending and infrastructure investment in New York City remain positive.
— Construction Dive
The influx of capital, unfortunately, has not impacted the city’s most critical area of need as it was recently reported to have fallen short of its planned goals to construct 25,000 units of affordable housing by 36%. The New York Building Congress says the shortfall will only get worse as a... View full entry
The latest data from the Dodge Construction Network (DCN) has revealed a 19% decline in the total number of construction starts for September, marking the second consecutive month in which declines were recorded following a 48% increase in July. The new seasonally adjusted annual rate is now $... View full entry
A leading economist in the AEC industry has warned that the United States' housing sector has entered a recession, with ramifications for homebuilding in the coming years. Robert Dietz, chief economist at the National Association of Home Builders (NAHB), made the comments at the National... View full entry
The latest Dodge Momentum Index (DMI) report indicates a sizable increase of 5.7% to a total of 183.2 for September, up from the revised 173.4 figure that was recorded in August. The Dodge Construction Network notes that this total falls within 5% of the DMI’s all-time high and was... View full entry
The latest Dodge Construction Network figures show a decline in construction starts by 9% after a July spike that was propelled mostly by the nonresidential and nonbuilding sectors. Total starts now stand at an adjusted annual rate of $1.25 trillion. The August dip was caused by a 36%... View full entry
The latest Dodge Momentum Index report from the Dodge Construction Network shows a slight drop of 1.2% from July’s revised record peak of 174.0, driven by declines in the institutional sector that were spurred on primarily by a decrease in healthcare projects when compared to last month... View full entry
According to the Dodge Construction Network (DCN), total construction starts surged 48% in July to a seasonally adjusted annual rate of $1.36 trillion. The gain is due to the start of three large manufacturing plants and two Liquefied Natural Gas (LNG) export facilities. Even without these... View full entry
The number of unfilled positions in the construction industry appears to be falling, according to new figures by the Associated Builders and Contractors (ABC). June 2022 saw 334,000 unfilled positions in the sector, down 17% on the previous month, but still 4% higher than June 2021. ABC’s... View full entry
The Zweig Group consultancy has returned with its annual list of 'Best Firms to Work For' in the AEC industry. Recognized companies were selected based on their “workplace practices, employee benefits, [and] employee retention rates,” among other factors. Zweig says their employees'... View full entry
The Dodge Momentum Index hit a 14-year high in June and recorded another 2.9% increase in July. The index now stands at 178.7, up from June’s figure of 173.6. “Commercial planning in July was led by an increase in data center, office and warehouse projects, while fewer education and... View full entry
