Following consistently increasing demand for design services throughout most of 2013, the Architecture Billings Index (ABI) has posted its first consecutive months of contraction since May and June 2012. 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 December ABI score was 48.5, down from a mark of 49.8 in November. This score reflects a decrease in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 59.2, up from the reading of 57.8
The Colorado Dept. of Transportation’s Transportation Commission achieved two milestones for the I-70 mountain corridor in mid-January, approving $55 million to widen the westbound Twin Tunnel and finalizing a memorandum of understanding (MOU) between CDOT, Clear Creek County and the city of Idaho Springs. Photo courtesy of CDOT After completion of the new eastbound bore of the I-70 Twin Tunnels in 2013, CDOT will begin work on a new westbound bore later this year. The MOU provides a framework for making short and mid-term improvements to the long-congested I-70 corridor within Clear Creek County. “Both of these initiatives mark significant progress
Construction materials prices expanded just 0.1% in December and are up 1.3% year over year, according to a Jan. 15 Producer Price Index released by the Dept. of Labor. Nonresidential construction materials prices also rose only 0.1% for the month and are 1% higher than the same time one year ago. “Materials prices continue to be unusually well behaved, neither rising nor falling aggressively on a month-to-month basis,” said Associated Builders and Contractors Chief Economist Anirban Basu. “That said, there was some volatility in individual input segments, including natural gas prices, which were up 7.8%, and crude petroleum, which was
SydnorDouglas B. Sydnor has joined Gensler's Phoenix office as a senior architect. Sydnor is a fellow of the American Institute of Architects and has more than 35 years of experience in the Phoenix area, most recently as president and CEO of Douglas Sydnor Architect and Associates in Scottsdale. He received a master's degree from Harvard University and a bachelor's degree from Arizona State University. Related Links: Engineering News Record Architectural Record HaggDouglas Haag has been promoted to chief administration officer for Sundt Construction. He joined the firm in 2010 as director of administration. Haag will lead the company's strategic management
Nonresidential construction spending grew 0.6% on a monthly and yearly basis in November 2013, according to a Jan. 2 release by the U.S. Census Bureau. In November, spending totaled $583.436 billion on a seasonally adjusted, annualized basis. “Construction activity bounced back in November, due in part to the end of the federal government shutdown and an accompanying return to normalcy,” said Associated Builders and Contractors Chief Economist Anirban Basu. “Nonresidential construction spending was up 2.3% on a seasonally adjusted basis compared to September, which makes a better comparison because October, with the federal government shutdown, was not a normal month.“The
Look for transaction activity and even development to pick up across the board as investors seek out new opportunities in the global hospitality sector over the next 12 months according to EY’s “Global Hospitality Insights 2014,” released in mid-January. Following years of a slow and stubborn recovery and constrained capital budgets, the global hospitality sector witnessed a strong appetite for growth in 2013, a trend that is set to continue and pick up pace in 2014. “Global Hospitality Insights” follows 13 key trends expected to have major impacts on the hotel sector in 2014 and anticipates strengthening fundamentals providing a
The American Institute of Architects recently announced its “punch list” for Congress that, if completed, will ignite the construction economy by spurring much-needed improvements in energy efficiency, infrastructure and resiliency and create jobs for small businesses. “America needs to create more jobs, strengthen communities and find help for millions of young people to succeed in the new economy,” said Robert Ivy, CEO of the AIA. “So we’ve created a punch list—a term that enumerates unfinished items in a construction contract.“The AIA’s Congressional punch list will help Congress satisfy its implicit contract with the American people to spur growth and create
For years, Colorado property owners, as well as banks and other lenders that had deeds of trust (mortgages) on real estate, paid off or settled with subcontractors and suppliers who claimed mechanic’s liens against the properties involved. They made those payments because they thought, or were advised, that the mechanic’s liens had priorities over the deeds of trust. That is not necessarily true. Whether a particular mechanic’s lien has priority over a deed of trust requires careful factual and legal study. If a subcontractor’s or supplier’s mechanic's lien does not have priority over the deed of trust, the subcontractor or
The Equipment Leasing and Finance Association (ELFA), which represents the $827-billion equipment finance sector, recently revealed its Top 10 Equipment Acquisition Trends for 2014. Given that U.S. businesses, nonprofits and government agencies will spend more than $1.5 trillion in capital goods or fixed business investments (including software) this year—and finance more than half of those assets—these trends affect a significant portion of the U.S. economy. Businesses will need to consider a dynamic environment of economic growth, wider credit availability and favorable interest rates in their equipment acquisition decision-making. “For a majority of U.S. businesses, equipment financing is a critical source of
The Conference Board Consumer Confidence Index, which had decreased in November, rebounded in December. The Index stands at 78.1 (1985=100), up from 72.0 in November. The Present Situation Index increased to 76.2 from 73.5. The Expectations Index increased to 79.4 from 71.1. Consumers’ appraisal of overall current conditions improved. Those claiming business conditions are “good” edged down to 19.6% from 20.4%, however, those claiming business conditions are “bad” decreased to 22.6% from 24.6%. Consumers’ appraisal of the job market was also more upbeat. Those saying jobs are “plentiful” ticked up to 12.2% from 12.0%, while those saying jobs are
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