Total construction spending cooled in June as residential building hit the pause button, while private nonresidential and public construction also declined, according to a recent analysis of new Census Bureau data by the Associated General Contractors of America. “New single-family and multifamily construction both had rare slowdowns in June, while private nonresidential construction remained stuck in neutral as it has all year and the long slump in public construction worsened,” said Ken Simonson, the association's chief economist. “For the rest of 2013, private construction appears likely to grow again but public spending is showing no signs of a recovery.”Construction put
The Regional Transportation District and northwest metro area communities took a major step forward in the Northwest Area Mobility Study at the end of July. The group agreed to focus the study on a specific set of transit alternatives that could bring commuter rail and/or other transit improvements to northwest communities sooner than current projections for when RTD can complete the Northwest Rail Line to Longmont. The alternatives include options for phasing construction of the 41-mile Northwest Rail corridor in segments, options to determine whether extending the North Metro commuter rail line to Longmont is better than serving Longmont via
After more than three months of closing eastbound and westbound I-70 for up to 30 minutes at a time, the Colorado Dept. of Transportation has completed blasting operations in the eastbound Twin Tunnel near Idaho Springs. The Twin Tunnels project is one of the first projects under way to improve the safety and mobility along the I-70 mountain corridor. The project includes adding one eastbound lane between East Idaho Springs and U.S. 6 and expanding the eastbound bore of the Twin Tunnels. An estimated 19,700 cu yd of rock has been removed from the 635-ft-long tunnel. Blasting operations began on
The University of Utah broke ground in June on its cutting-edge College of Law building, which will facilitate new approaches to legal education based on more hands-on learning and skills training. “With this new building, the College of Law will advance its mission to establish a ‘teaching hospital for law’—an innovative vision for the future of legal education,” said University of Utah President David W. Pershing. “Expanded and improved facilities will enable a variety of educational tracks aimed at improving the human condition, including global justice and the evolving field of biolaw.” The facility will feature a library integrated throughout
The Conference Board Consumer Confidence Index, which had improved in June, pulled back slightly in July. The index now stands at 80.3 (1985=100), down from 82.1 in June. The Present Situation Index increased to 73.6 from 68.7. The Expectations Index decreased to 84.7 from 91.1 last month. Consumers’ appraisal of current conditions continues to improve. Those stating business conditions are “good” increased to 20.9% from 19.4%, while those stating business conditions are “bad” decreased to 24.5% from 24.9%. Consumers’ assessment of the job market was also more positive.Those claiming jobs are “plentiful” increased to 12.2% from 11.3%, while those claiming
Construction employment increased in 191 out of 339 metropolitan areas between June 2012 and June 2013, declined in 97 and was flat in 51, according to an analysis of federal employment data recently released by the Associated General Contractors of America. Association officials welcomed the construction employment gains but cautioned that demand remained spotty amid continued efforts to cut federal investments in vital infrastructure projects, including for clean water systems.“Although construction activity remains extremely spotty, with strong residential activity offsetting lackluster private nonresidential investment and shrinking public construction spending, workers are being hired in more and more metro areas,” said
According to data recently released by the Associated General Contractors, Phoenix leads Southwest metropolitan areas in construction hiring, followed by Albuquerque and Las Vegas. The momentum created by the Phoenix metro area’s construction job growth pushed the state of Arizona to 9 percent construction-job growth from June 2012 to June 2013.Other states that also saw 9 percent growth year-over-year are Mississippi, Louisiana and Wyoming. Nevada and New Mexico both saw increases of 3 percent.Link to June 2013 AGC Construction Employment By Southwest State ranked by growth“Although construction activity remains extremely spotty, with strong residential activity offsetting lackluster private nonresidential investment
The Colorado Dept. of Transportation completed a complex bridge replacement on July 21 after crews rolled the new 2,400-ton Pecos Street Bridge over I-70 into place over one weekend. The highly coordinated bridge move allowed CCDOT to reopen I-70 through central Denver 4.5 hours ahead of schedule. The 4.8-million-lb bridge started moving onto I-70 at noon on Saturday, the 20th, and was placed in its final configuration around 1 a.m. Sunday morning. The project also added a new pedestrian bridge over the freeway on the west side of Pecos Street. “Our decision to completely close I-70 for one full weekend reduced
The Colorado economy continues to grow in 2013 at a rate that exceeds previous expectations going into the year, says economist Richard Wobbekind of the University of Colorado Boulder’s Leeds School of Business. Midway through the year, Colorado’s job growth rate is up by about 2.3%, a gain of about 52,400 jobs from May 2012 to May 2013. Job growth is expected to continue to rise to about 2.5%, a figure revised from estimates last December when the projection was about 1.8%. “The performance of the Colorado economy has modestly exceeded our December 2012 forecast,” says Wobbekind, executive director of the
The Architecture Billings Index (ABI) remained positive again in June after the first decline in 10 months in April. As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lag time between architecture billings and construction spending. The American Institute of Architects reported the June ABI score was 51.6, down from a mark of 52.9 in May. This score reflects an increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 62.6, up sharply from the reading of 59.1 the previous month. “With steady
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