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A new report details how construction costs have changed across 12 U.S. cities since the coronavirus pandemic began. Broken down by market, all of the U.S. cities in the Rider Levett Bucknall report saw at least small gains, except for Chicago, which experienced a 1.29% decrease in comparative costs from October 2019 to October 2020. — Construction Dive
According to Construction Dive, the new report by construction consultancy firm Rider Levett Bucknall signals a 2.03% increase of the national average for construction costs. The survey tracks the RLB Comparative Cost Index for major cities across the United States and found the biggest cost... View full entry
The American Institute of Architects published the new economic report for the month of December this morning, indicating a considerable decline in demand for design services from U.S. architecture firms. The Architecture Billings Index dropped to a score of 42.6, well below November's 46.3 score... View full entry
The latest economic report from the American Institute of Architects shows a continued decline of architecture firm billing activity. The Architecture Billings Index for the month of November fell below October's, now posting a score of 46.3. The Institute also registered a slowing pace of... View full entry
Architectural billings remained largely unchanged from the previous month during October, reports the American Institute of Architects in its latest Architecture Billings Index (ABI) this morning. The current pace of decline in firm billings was registered at 47.5 — only a mild... View full entry
Last month fewer architecture firms reported a decline in billings, up slightly from previous months, but still lagging behind pre-pandemic numbers. The AIA's Architecture Billings Index (ABI) report for the month of September shows a score of 47.0, indicating that a little over half of... View full entry
The American Institute of Architects (AIA) has published its Architecture Billings Index (ABI) report for the month of August, showing stalled business conditions for architecture firms and a further decline in demand for design services, represented by an unchanged score of 40.0 for the... View full entry
A second supplemental Quarterly Market Forecast (QMF) from PSMJ Resources conducted to gauge the impact of the COVID-19 pandemic on the Architecture Engineering and Construction industry offers somewhat positive news for the month of May. After posting a steep, 27% decline in proposal... View full entry
A new report from the National Bureau of Economic Research, the private non-profit group that "maintains a chronology of the peaks and troughs of U.S. business cycles," indicates that the United States entered a recession in February 2020. The latest report finds that quarterly... View full entry
The Construction Leadership Council (CLC) recently announced new measures they aim to achieve after the COVID-19 pandemic ceases. CLC has published its "Roadmap to Recovery" plan, which it intends to execute in three phases in order to help the construction industry "reinvent itself within... View full entry
This episode of Archinect Sessions was intended to be a brief introduction to a number of conversations we've been recording with members of the architecture community from around the world, checking in to see how people are coping through the current COVID-19 crisis and related effects to... View full entry
The latest Architecture Billings Index (ABI) report published by the American Institute of Architects (AIA) shows that business for the architecture industry has taken a precipitous drop in the weeks since the COVID-19 crisis began to take hold in the United States. While February’s ABI... View full entry
A new economic report from the United States Commerce Department indicates that housing construction has been massively impacted by the COVID-19-related economic crisis that is currently gripping the country. According to the department, the number of construction groundbreakings that... View full entry
Boston Mayor Martin Walsh’s announcement earlier this week halting all but essential construction work in the city has left contractors in other areas of the country wondering if their jurisdictions will also order a temporary stop to their projects.
[...] other areas are under orders that ban nonessential services, causing some construction leaders to wonder whether their work is considered essential or not.
— Construction Dive
With the growing coronavirus pandemic calling for frequently adjusted federal, state, and local orders, a fair amount of uncertainty has gripped the US construction industry. While Boston has completely shut down all nonessential construction activity for at least the next two weeks, contractors... View full entry
Treasuries now make up more than half of the world’s haven assets, double the share they accounted for during the global financial crisis, according to Eurizon SLJ Capital. That complicates matters when the spread between long- and short-term yields inverts: what used to be a reliable American recession indicator is instead an barometer of investors diving for cover worldwide. — Yahoo! Finance
One of the top three recession indicators economists look at to gauge the health of the American economy—the relationship between the various return rates on United States Treasury Bonds—is becoming less a useful metric for those analysts due to the influence of global economic trends... View full entry
Chinese investors sold off billions more in U.S. commercial property last year than they bought, as other foreigners start to sour on the U.S. market as well.
Foreign investors were net sellers of U.S. commercial real estate last year for the first time since 2012, posing a fresh setback for a market that is already showing signs of strain.
— The Wall Street Journal
The Wall Street Journal reports that foreign investors sold $20 billion more in real estate than they bought last year as a number of international economic trends, including Brexit and an ongoing effort by the Chinese government to bring investment back home, converge to make the American real... View full entry
