News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
AGC of America / December 2, 2013
An unusual surge in public construction in October pushed total construction spending to its highest level since May 2009 despite a dip in both private residential and nonresidential activity, according to an analysis of new Census Bureau data by the Associated General Contractors of America. Association officials urged lawmakers in Washington to make water and surface transportation investment a top federal priority.
“Nearly every category of public construction increased in October, according to the preliminary Census figures, although for the first 10 months of 2013 combined,Read More
John Crosby / HW.com / October 22, 2013
The U.S. Department of Commerce reported today that construction spending hit a near 4-1/2 year high in August, boosted by increases in both private and public outlays, a hopeful sign for third-quarter economic growth.
Construction spending increased 0.6 percent to an annual rate of $915.1 billion, the highest level since April 2009.
Private residential construction spending jumped 1.2 percent to a five-year high, showing little sign that high interest rates were slowing activity. Part of the increase in residential construction spending reflected home improvement projects. PrivateRead More
Associated General Contractors of America / October 2013
In a mid-September report, Ken Simonson, Chief Economist for Associated General Contractors of America, cites several factors for what appears to be a mixed bag of indicators for growth in the overall construction market. Three trends are helping many sectors and regions:
- ‘Shale gale’
- Panama Canal expansion
- Residential revival
Three additional trends are holding down construction growth:
- Government spends less on schools, infrastructure
- Consumers switch from stores to online buying
- Employers shrink office space per employee
In particular,Read More
Joshua J. Miller / NAHB / September 3, 2013
Total private residential construction spending increased marginally to a seasonally adjusted annual rate of $334.6 billion in July 2013 according to Census estimates. Spending continues to improves, but remains well below the peak pace of $676.4 billion in March 2006. The current reading is 17.2% higher than a year ago.
Single-family spending registered a slight increase of 0.5% for the month, while the home improvement category increased 0.8%. The multifamily category remained nearly unchanged with an increase of 0.1% for the month.
Robert Dietz / NAHB / August 1, 2013
After recent positive data revisions, seasonally adjusted improvement spending has shown growth during the spring of 2013. The current pace of improvement spending is the highest since 2007. This improved picture of the remodeling market is consistent with NAHB surveys of remodelers, suggesting improving market conditions during the second quarter.
According to the current Census construction spending report, total private residential construction spending was effectively unchanged at a seasonally adjusted annual rate of $332.1 billion in June 2013. The MayRead More