The value of new construction starts dropped 12% in January to a seasonally adjusted annual rate of $469.1 billion, according to McGraw-Hill Construction, a division of McGraw-Hill Financial. The decline followed a sharp 23% increase for total construction in December and brought the level of contracting back to the average pace reported during 2012. Much of January’s downturn was due to decreased activity for nonresidential building and housing, while the nonbuilding construction sector (public works and electric utilities) held close to its December volume. On an unadjusted basis, total construction starts in January were reported at $33.1 billion, up 11%
As the prognosis for the design and construction industry continues to improve, the Architecture Billings Index (ABI) is reflecting its strongest growth since November 2007. 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 January ABI score was 54.2, up sharply from a mark of 51.2 in December. This score reflects a strong increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 63.2, much higher than
The 2013 Jury of Fellows from the American Institute of Architects elevated 122 AIA members to its prestigious College of Fellows, an honor awarded to members who have made significant contributions to the profession. Of those 122 AIA members, four from Colorado were chosen. The fellowship program was developed to elevate architects who have made a significant contribution to architecture and society and who have achieved a standard of excellence in the profession. Election to fellowship not only recognizes the achievements of architects as individuals, but also their significant contribution to architecture and society on a national level.Out of a
Each year, the Colorado Department of Transportation presents one of its six regions with the Executive Director’s Cup, an Award of Excellence. This year’s award went to Region 3, which encompasses the northwest corner of the state, including Delta, Eagle, Garfield, Grand, Gunnison, Hinsdale, Jackson, Lake, Mesa, Moffat, Montrose, Pitkin, Rio Blanco and Routt counties. “Our people dedicate their lives to making the transportation system of Colorado the best it can be,” said Region 3 Transportation Director David Eller. “This award is all about the people who plan, program, design, build, maintain, repair and support what is necessary for our
After 23 months of construction, the U.S. General Services Administration rededicated in mid-February its 95-year-old Wayne N. Aspinall Federal Building and U.S. Courthouse in Grand Junction. Delivering on GSA’s mission to create a more sustainable government, the goal of this $15-million project is to be GSA’s first net-zero-energy building listed on the National Register. Designed to achieve LEED-Platinum-certification, the rehab turns a 1918 building into an electric utility by having it produce as much energy as it uses. The facility is more than 50% more efficient than a typical office building as a result of the upgraded systems. If the
Revised government data issued recently show the construction industry is contributing substantially to economic and employment growth, according to an analysis by the Associated General Contractors of America. Association officials noted that construction employment in January rose for the eighth consecutive month, while construction spending in December increased for the ninth month in a row. Both totals were the highest levels in more than three years.“The new employment data show the industry lost even more jobs in the recession than previously estimated but has added almost 300,000 jobs in the past two years, including nearly 100,000 since September,” said Ken
Denver's Regional Transportation District General Manager Phil Washington announced Jan. 22 that RTD has identified another item for the FasTracks Internal Savings Account that may allow it to take advantage of favorable debt interest savings. Refinancing a portion of the transit agency’s debt could offer RTD an opportunity to build the North Metro Rail Line to 72nd in Commerce City sooner than expected. Map courtesy of RTD The new debt restructuring plan may allow Denver's RTD to issue a request for proposal to build the North Metro rail line to 72nd Avenue within the next 10 months. Washington said RTD
New construction starts in December climbed 23% to a seasonally adjusted annual rate of $530 billion, according to McGraw-Hill Construction, a division of The McGraw-Hill Cos. The sharp increase for total construction followed two months of lackluster activity, as several very large projects in December helped to lift the pace of contracting. By major sector, substantial gains in December were reported for nonresidential building and nonbuilding construction while housing maintained the steady upward trend that’s been present for much of the past year. For all of 2012, total construction starts grew 6% to $463.6 billion, a moderate yet stronger rate
The Conference Board’s Consumer Confidence Index, which had declined in December, fell further in January. The index now stands at 58.6 (1985=100), down from 66.7 in December. The Expectations Index declined to 59.5 from 68.1. The Present Situation Index decreased to 57.3 from 64.6 last month. Consumers’ appraisal of current conditions deteriorated in January. Those claiming business conditions are “good” declined to 16.7% from 17.2%, while those stating business conditions are “bad” increased to 27.4% from 26.3%. Consumers’ assessment of the labor market has also grown more negative. Those saying jobs are “plentiful” declined to 8.6% from 10.8%, while
Business conditions at architecture firms continue to improve. As a leading economic indicator of construction activity, the Architecture Billings Index (ABI) reflects the approximate nine- to 12-month lag between architecture billings and construction spending. The American Institute of Architects reported the December ABI score was 52.0, down from the mark of 53.2 in November. 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 59.4, down slightly from the 59.6 mark of the previous month. “While it’s not an across the board recovery, we are hearing
RSS
