At a seasonally adjusted annual rate of $513.4 billion, new construction starts in May dropped 5% from the previous month, according to McGraw Hill Construction, a division of McGraw Hill Financial. The reduced pace for total construction starts reflected a moderate loss of momentum for nonresidential building and housing, while the nonbuilding construction sector eased back slightly.The total construction decline followed two months of strengthening activity, although May’s level was still above the lackluster volume registered at the outset of 2014. For the first five months of 2014, total construction starts on an unadjusted basis were $201.5 billion, down 1%
Construction firms added jobs in 40 states and the District of Columbia over the past 12 months and in 30 states and D.C. between April and May, according to a recent analysis of Labor Dept. data by the Associated General Contractors of America. Association officials said the employment gains help, but that construction employment remains below peak levels in every state and the District of Columbia, except North Dakota. “With demand for construction growing in most states, many firms are slowly rebuilding their depleted payrolls,” said Stephen E. Sandherr, the association’s chief executive officer. “But if overall economic growth slows,
Total construction spending edged higher for the third straight month in May, as solid increases in private nonresidential and public construction outweighed a downturn in residential projects, according to new Census Bureau data. Nonresidential construction spending rose 1.1% on a monthly basis in May and has increased 6.4% on a year-over-year basis. Spending for the month totaled $596.2 billion on a seasonally adjusted, annualized basis. Additionally, nonresidential construction spending for April was revised upward from $570.6 billion to $589.9 billion.“The May figures show that construction activity continues to expand, but with lots of variability by month and project type,” said
The Conference Board Consumer Confidence Index, which had increased in May, improved again in June. The Index now stands at 85.2 (1985=100), up from 82.2 in May. The Present Situation Index increased to 85.1 from 80.3, while the Expectations Index rose to 85.2 from 83.5 in May. Consumers’ appraisal of current conditions improved in June. Those claiming business conditions are “good” increased to 23.0% from 21.1%, while those stating business conditions are “bad” decreased to 22.8% from 24.6%. Consumers’ assessment of the job market was also more favorable. Those stating jobs are “plentiful” edged up to 14.7% from 14.2%, while
Overall construction materials prices remained flat in May but are up 1.6% year over year according to the June 13 Producer Price Index release supplied by the U.S. Dept. of Labor. Nonresidential construction materials prices fell 0.2% for the month but are 1.3% higher than at the same time one year ago. “With construction spending expanding only in fits and starts and given recent evidence of disappointing global economic performance, it comes as little surprise that most construction materials prices are not rising,” said Associated Builders and Contractors Chief Economist Anirban Basu. “For the better part of two years, materials
Construction employers added 6,000 workers to payrolls in May as the industry’s unemployment rate dropped to 8.6%, its lowest May level in six years, according to an analysis of new government data by the Associated General Contractors of America. “Even with five straight months of construction employment gains, the industry remains vulnerable to sudden shifts in demand,” said Ken Simonson, the association’s chief economist. “Should Washington allow federal highway funding to come to a halt as predicted later this summer, the sudden loss of billions of dollars worth of demand would cost many construction workers, as well as workers from
Salt Lake City has begun several projects aimed at improving "livability and sustainability," according to two-term Mayor Ralph Becker. The new projects are in addition to the city's recently completed public safety building and the $1.8-billion replacement of terminals at its international airport, already under way. Related Links: SLC Public Safety Building Designed for Net-Zero-Energy Use City Creek Retail Revives Central Business District Dust from building the City Creek mixed-use development had barely settled when across Main Street work on Salt Lake's new Broadway-style performing arts theater began. Farther west, near the Jordan River, the city has started construction of
Regional designers report that many market sectors have improved, and most firms saw their revenue grow in 2013. But they also have post-recession concerns about staffing and owner finances. Design leaders cite regional strength in the energy, multifamily, commercial and hospitality sectors. They say public-sector work remains generally sluggish. Rendering by Davis Partnership, Courtesy of Adolfson and Peterson The 11-story CoBank Center in Greenwood Village, Colo., is being developed by Shea Properties, designed by Davis and RNL and being built by Adolfson & Peterson. Related Links: ACEC/CO Engineering Excellence Awards New Risk Index Identifies Top Industry Concerns "The surge in
Parsons Brinckerhoff has named Jason Longsdorf director of planning in the firm's Denver office. Longsdorf will manage the environmental, transportation planning and placemaking staff. He previously served as PB's regional environmental director. Longsdorf will also oversee development of planning and environmental work for PB's offices in Austin, Texas; Houston; Dallas; Tempe, Ariz.; Albuquerque; and Salt Lake City. Related Links: ACEC/CO Honors Outstanding Engineers HCC Presents Annual Industry Awards James A. Brady has been appointed chief operating officer at Denver's Wilson & Co., Engineers & Architects. Brady has 24 years of experience in transportation planning and design. He has been with
Superintendent Carol Hilty likes to say that the Colorado School for the Deaf and the Blind (CSDB), although unique, is simply a school serving the children of Colorado. “Our students just happen to be deaf and blind,” she says. Photo courtesy of RTA Architects Since its humble beginning in 1874 with just seven students who were deaf, the school has grown to serve an average of 235 students on campus and 500 students statewide annually, from birth to age 21. The campus occupies 17 buildings and sits on 37 acres in Colorado Springs.In 2010 the school won a BEST Grant
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