Construction input prices dipped 2% in January and have now failed to rise for six consecutive months, according to the Feb. 18 producer price index (PPI) release from the U.S. Dept. of Labor. On a year-over-year basis, construction input prices are down 3.6%. In addition, nonresidential construction input prices fell 2.1% on a monthly basis and 4.6% on a yearly basis. “The decline in oil and petroleum prices finally showed up in the PPI data,” said Associated Builders and Contractors Chief Economist Anirban Basu. “According to the Bureau of Labor Statistics, crude petroleum prices fell 30.6% for the month and
Doing major, invasive construction surgery without compromising sensitive treatment activities in a high-intensity, critical care hospital takes extreme planning and an immersive level of quality control, but so far, about halfway through a five-phase project in Englewood, Colo., the owners representative says the contractor "has made it work." Related Links: First Phase of Craig Hospital Expansion Goes Vertical Broadmoor West Reopens After Extensive Renovation Since 1956, more than 30,000 people with spinal cord and traumatic brain injuries have been served by the patient-centered treatment and research of Craig Hospital in suburban Denver. Ranked by U.S. News and World Report as
Denver International Airport has selected the Denver office of Swinerton Builders to lead design-build construction of a new parking structure that will increase the number of public parking spaces at the airport by 1,795. The parking garage will be located on the southeast side of Jeppesen Terminal. Design is underway by Walker Parking Consultants, and Swinerton will start construction on the new four-story parking structure in late February. DIA awarded the design-build team the project after a two-phase, best-value selection process.Construction is expected to take about two years to complete, at an estimated cost of about $46 million. The project
Regional Transportation District staff presented on Feb. 3 a final list of four teams to the RTD Board of Directors to bid on the Southeast Rail Extension project. The extension, which is part of RTD’s 2004 voter-approved FasTracks plan, will add 2.3 miles of track from Lincoln Station to RidgeGate Parkway. Seven construction teams initially responded to the request for qualifications. The final four teams selected to bid on the project are:• Balfour Beatty Infrastructure with Parsons Brinckerhoff (serving as prime contractor and performing systems and design work)• Graham–Kraemer Joint Venture (prime contractor) with Modern Railway Systems (systems), Stantec (design)•
Construction spending rose in December to a six-year high of $982 billion as public construction for the year increased for the first time since 2009, according to a recent analysis by the Associated General Contractors of America. Association officials said President Obama’s recent budget proposal and his suggested infrastructure funding program should help construction spending continue to grow by accelerating debate about the best way to fund repairs to the nation’s aging roads, bridges and other public infrastructure.“For the first time in nearly a decade, there was growth in all three major construction segments—public, private nonresidential and residential,” said Ken
Construction employment across the Southwest dipped in December, with a loss of nearly 1,600 jobs from November to December 2014 across the three-state region. According to data by the U.S Bureau of Labor Statistics, construction employment experienced losses month-to-month, including 200 in Arizona, 1,000 in Nevada and 400 in New Mexico.In 2014, the region collectively about 1,300 jobs: Arizona lost the most jobs in the region, at 4,400, while Nevada gained 4,600 jobs and New Mexico lost about 1,500. ArizonaArizona’s construction sector continues to struggle. Although more than 7,000 jobs were added state-wide in December, according to seasonally adjusted employment
Rendering Courtesy Future Cities The 11-acre site on Arizona State University's Tempe, Ariz., campus was planned to be the new home of USA Basketball. After several months of delays, Arizona State University on Jan. 8 declared it would no longer work with the development team attempting to build an approximately $400-million, mixed-use campus at the school's Tempe campus. Slated to be the new home for USA Basketball,the governing body for the sport in the U.S.The project, dubbed USA Place, also was intended to provide space for retail, residential and a 220-room hotel. The development team was a combined effort of
Construction input prices dipped 1.4% during the final month of 2014 and are down nearly 1% on a year-over-year basis, according to the Jan. 15 producer price index release from the U.S. Dept. of Labor. Inputs to nonresidential construction fell even farther, down 1.7% for the month and 1.9% year over year. December’s report marks the sharpest decline in input prices since late 2008 during the global financial crisis and the fifth consecutive month construction materials prices have failed to rise.“Without question, financial markets have been unnerved by the recent declines in oil, copper and other commodity prices, although that
The Conference Board Consumer Confidence Index, which had increased in December, rose sharply in January. The index now stands at 102.9 (1985=100), up from 93.1 in December. The Present Situation Index rose to 112.6 from 99.9, while the Expectations Index increased to 96.4 from 88.5 in December. Consumers’ assessment of present-day conditions was considerably more favorable in January than in December. Those saying business conditions are “good” increased from 24.7% to 28.1% while those claiming business conditions are “bad” decreased from 18.9% to 16.8%.Consumers were also much more positive in their assessment of the job market. Those stating jobs are
The U.S. construction industry added 48,000 jobs in December, including 22,800 jobs in nonresidential construction, according to the Bureau of Labor Statistics (BLS) preliminary estimate released on Jan. 9. November’s estimate was unchanged in the release, remaining at 20,000 net new construction jobs, but nonresidential construction’s November jobs figure was upwardly revised to 7,100 jobs. “The U.S. economy added an average of 289,000 jobs per month during the final three months of 2014, indicating that momentum is surging as we transition into 2015,” said Associated Builders and Contractors Chief Economist Anirban Basu.“This represents good news for the construction industry in
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