The Conference Board Consumer Confidence Index, which had increased in January, declined in February. The index now stands at 96.4 (1985=100), down from 103.8 in January. The Present Situation Index decreased to 110.2 from 113.9, while the Expectations Index declined to 87.2 from 97.0 in January. Consumers’ appraisal of current conditions was moderately less favorable in February than in January. Those saying business conditions are “good” decreased from 28.2% to 26.0%, however those claiming business conditions are “bad” decreased from 17.3% to 17.0%.Consumers were also somewhat less positive in their assessment of the job market, with the proportion stating jobs
The value of new construction starts climbed 9% in January to a seasonally adjusted annual rate of $621.0 billion, according to Dodge Data & Analytics. The increase for total construction was the result of an especially strong performance by the nonbuilding construction sector, which benefitted from the start of a massive liquefied natural gas terminal facility in Texas. Meanwhile, nonresidential building lost momentum for the second month in a row and residential building pulled back due to a slower pace for multifamily housing. On an unadjusted basis, total construction starts in January were reported at $43.2 billion, up 18% from
Following a nine-month stretch of positive billings, the Architecture Billings Index (ABI) showed no increase in design activity in January. As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lead time between architecture billings and construction spending.The American Institute of Architects reported the January ABI score was 49.9, down from a mark of 52.7 in December. This score reflects a very modest decrease in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 58.7, down from the reading of 59.1 the previous month.“This easing in
The Colorado Dept. of Transportation’s Transportation Commission decided on Feb. 19 to move forward with a design-build finance operate maintain (DBFOM) method for the finance and delivery of the I-70 East project from I-25 to Denver International Airport. “CDOT will be able to deliver this project beyond what it could do with its limited funds by partnering with the private sector for the construction, operation and maintenance responsibilities,” said Transportation Commissioner Chairman Ed Peterson.“The commission’s decision was based on being the best stewards of public money and trust; however it is important to note that this is just one step
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
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