The Conference Board’s Consumer Confidence Index, which had improved moderately in May, increased further in June. The index now stands at 101.4 (1985=100), up from 94.6 in May. The Present Situation Index increased from 107.1 last month to 111.6 in June, while the Expectations Index advanced to 94.6 from 86.2 in May. Consumers’ assessment of current conditions improved again in June. Those saying business conditions are “good” increased from 24.7% to 26.4%, while those claiming business conditions are “bad” was virtually unchanged at 17.8%. Consumers were also more positive about the job market. Those stating jobs are “plentiful” increased from
Through the first five months of 2015, nonresidential construction spending is having its second best year since the Census Bureau began tracking the metric in 2002. According to the bureau’s July 1 release, nonresidential construction spending increased 1.1% on a month-over-month basis and 8.1% on a year-over-year basis. It totals $669.6 billion on a seasonally adjusted, annualized basis. From January to May, nonresidential spending expanded by 7.1%; the only year in which the segment saw faster growth was 2007. Since then, growth over each year’s initial five months has averaged only 1.8%.Perhaps the most notable aspect of May’s release was
A $156-million expansion is underway to consolidate University of Colorado athletic departments into one set of connected facilities. It is the largest-ever design-build sports project for the Denver office of Mortenson Construction, and the largest single-phase athletic expansion underway in the country. Mortenson is leading the design-build team and Denver-based Populous is the project architect. Related Links: CU System Selected as Mountain States Owner of the Year CU Boulder Rec Center Built With Sustainable Features The project includes a 220,000-sq-ft expansion of CU's iconic Folsom Field; a new 120,000-sq-ft, net-zero energy indoor practice facility (IPF); and a 550-stall, below-grade parking
Going where they are needed and doing what needs to be done sums up the ethos of Horrocks Engineers since the Utah firm's founding by Gill Horrocks in 1968. Related Links: Engineering News Record Architectural Record "We have evolved with the needs of the municipalities and our other clients," says Larry Reasch, a Horrocks principal. "Our clients will have a need for something and ask us if we're willing to come in and fill that need. In other cases, we'll see opportunities, and if it makes sense, we'll move to pursue them."Steady growth, a diverse project portfolio and 2014 revenue
The leaders of regional design firms say they are seeing more work in nearly all market segments, with the possible exception of federal projects. The strongest sectors are multifamily, hospitality, offices, manufacturing, K-12 projects and water infrastructure; as Kevin Miller, a principal with Utah's GSBS Architects, notes, the improvement is "across the board." Photo courtesy of Josh Allred, Architectural Nexus The BYU Life Sciences Building in Provo, Utah, was designed by Architectural Nexus. Image courtesy of (right) courtesy of CTA rchitects Engineers Most design firms report strong market diversity, including an upscale private mountain residence designed by CTA Architects Engineers.
The Colorado Dept. of Transportation says that key early repairs made to the I-70 East viaduct between Brighton and Colorado boulevards in Denver are beginning to deteriorate. Several post tension rods, installed to reduce cracking along the viaduct, have corroded and separated from the bridge. Initial signs of cracking and deterioration were first detected in 1981, triggering regular inspections and repairs to the structure. In 1997, CDOT installed tension rods to stop additional cracking. In 2005, loads on the bridge were reduced to prolong its life. A final series of major repairs, totaling over $30 million, were made in 2011.A
The Associated Builders and Contractors’ Construction Backlog Indicator (CBI) declined 3.2% during the first quarter of 2015. Construction firms report a revenue-weighted average CBI of 8.4 months, 0.3 months below the fourth quarter 2014 reading. Year over year, the CBI has increased 4% from a first quarter of 2014 backlog of 8.1 months. “Weather and a myriad of other factors always make the first quarter CBI difficult to interpret,” said ABC Chief Economist Anirban Basu. “A brutal winter may have postponed project-related work, including the signing of contracts. The first quarters of 2012 and 2014 also experienced CBI declines that effectively were
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