Posts Tagged ‘build’
Wednesday, December 13th, 2017
Article source: ConstructConnect
ConstructConnect is known for its ‘starts’ statistics and forecasts. Twice per year, however, − in early summer and late fall − ConstructConnect also calculates and publishes ‘put-in-place’ construction spending projections.
It helps that the ‘starts’ numbers are leading indicators for the PIP figures.
The history of PIP capital spending is compiled and published by the Census Bureau. A thorough explanation of the differences between ‘starts’ and ‘put-in-place’ is provided at the end of this article.
ConstructConnect is now estimating that ‘grand total’ U.S. put-in-place construction spending in 2017, expressed in ‘current’-dollar terms (i.e., not adjusted for inflation), will be $1.233 trillion.
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Tags: AEC, Alex Carrick, architect, build, Connect, construct, ConstructConnect
Comments Off on U.S. Put-in-Place Construction Spending Forecasts – Heading Into Winter 2017
Monday, November 6th, 2017
Article source: ConstructConnect
Chart 1 of this article sets out, for each of Canada’s provinces, the most recent year-over-year growth rates for seven demographic and economic variables – population, housing starts, total jobs, hourly earnings, weekly earnings, retail sales and export sales.
An eighth measure is also included, the unemployment rate, but it is a ‘level’ rather than a growth rate.
To compare how the provinces are doing relative to each other, Chart 2 rearranges the results from Chart 1 in a ‘heat’ graphic. The methodology is as follows.
In each column of Chart 1, when the percent change number is equal to or higher than the Canada-wide figure, the relevant ‘cell’ is highlighted in yellow (for ‘warm’).
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Tags: Alex Carrick, architect, build, Canada, construct, ConstructConnect, Economist, Economy, employ, Growth, job, provinces
Comments Off on Ranking the Economic Performance of Canada’s Provinces – Heat Graph
Monday, October 23rd, 2017
Article source: ConstructConnect
Hurricane Harvey, which first struck southern Texas on Saturday August 25, and Hurricane Irma, which reached landfall in the Florida Keys on Sunday September 10, will ‘muddy’ the economic statistics for months to come. Estimates of the physical damage range widely, with $200 billion as the current outer limit.
Homes, shopping malls, schools, churches, fast-food outlets, abandoned motor vehicles and fragile vegetation were all victimized, to varying degrees, by storm surges, flooding and crushing winds. In the aftermath, restoring power and ensuring the safety of roads and bridges have been the immediate concerns.
Many building material suppliers and contractors, working together with insurance companies and government relief bodies, will be immersed in lengthy rebuilding efforts. The labor availability problem will become more acute.
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Tags: Alex Carrick, architect, build, construct, ConstructConnect, Economist, Economy, job
Comments Off on 13 Mid-September Economic Nuggets
Thursday, October 19th, 2017
Article source: ConstructConnect
Employment and revenues for architecture, engineering and construction have grown modestly for most of 2017. But the signals for the next 12 months are mixed, with architectural billings positive, construction starts uneven and contractors hiring, but worried about finding enough qualified workers. Meanwhile, there is huge uncertainty about the impact of potential changes in tax, infrastructure, immigration and other types of policy. How will these cross-cutting influences play out?
On November 1, three of the industry’s leading economists will come together for the annual Design and Construction Industry Economic Forecast, where they’ll discuss the changing landscape of commercial construction, the opportunities and challenges facing the industry as well as strategic insight on industry trends.
Construct Connect recently spoke to Alex Carrick, Chief Economists for ConstructConnect, for a quick discussion about his thoughts on the current state of the construction industry and where things are heading.
ConstructConnect: How long have you been hosting this webcast, what’s it about and who should attend?
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Tags: Alex Carrick, architect, build, ConstructConnect, Construction, Economist
Comments Off on Chief Economist Alex Carrick Shares Outlook on 2018
Monday, October 16th, 2017
Article source: ConstructConnect
The percentage levels and changes in Table 1 are based on the Census Bureau’s seasonally-adjusted (SA) August 2017 and earlier put-in-place construction statistics. ‘Put-in-place’ as a concept is meant to mirror work-in-process or progress payments as projects proceed.
For each type-of-structure, Table 1 takes the behind-the-scenes put-in-place data and compares the percentage changes of latest-12-months-over-previous-12-months versus latest-three-months-over-previous-three-months (annualized).
If the three-month percent change exceeds the 12-month percent change, then construction activity in that type-of-structure category is considered to be speeding up. A check mark is entered in the far right column. (If the opposite is occurring, a check mark is entered in the ‘slowing down’ column.)
If a type-of-structure category has a latest 3-month percent-change that is negative, but less negative, than its 12-month percent-change, such a circumstance is also considered to be an instance of ‘speeding up’ and warrants a check mark in the right-hand column. (Or, if it’s turning more negative, then it’s ‘slowing down’ further.)
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Tags: Alex Carrick, architect, build, construct, ConstructConnect, Economic, Economist, job
Comments Off on 2 Leading Monitors of U.S. Construction Activity, 1 Public and 1 Private – Early Fall 2017
Wednesday, October 11th, 2017
Article source: ConstructConnect
The Bureau of Labor Statistics (BLS) has just delivered a ‘sit up and pay attention’ moment. Its September Employment Situation report records a month-to-month deterioration (-33,000) in the total number of U.S. jobs for the first time in seven years, dating back to September 2010 (-52,000).
Before economy watchers start gnashing their teeth or bemoaning too loudly, the BLS is quick to point out that there was a special circumstance – horrific weather – that caused the employment downfall.
The jobs numbers are derived from a survey of payrolls. Employees in Texas and Florida who missed receiving paychecks early in September due to the fierce onslaughts of Hurricanes Harvey and Irma were accorded out-of-work status.
Hence, September’s jobs numbers fell prey to two unique but in many way twin events. There will almost certainly be distortions in October’s numbers as well, but in the opposite direction, as rebuilding rebound effects come into play. (more…)
Tags: Alex Carrick, architect, build, ContructConnect, Economist, job
Comments Off on U.S. September Jobs Report Delivers a ‘Sit Up and Pay Attention’ Moment
Monday, July 17th, 2017
Article source: ConstructConnect
ConstructConnect announced today that June construction starts, excluding residential activity, fell -13.7% versus May. The usual May-to-June change, due to seasonality, is +4.5%.
June of this year versus a strong June of last year was -16.3%. Standalone June of this year versus June’s average level over the previous five years (2012-2016 inclusive), however, was a more upbeat +2.8%.
Year-to-date starts through the first half of this year, compared with January-to-June of last year, stayed positive at +2.4%.
The starts figures throughout this report are not seasonally adjusted (NSA). Nor are they altered for inflation. They are expressed in what are termed ‘current’ as opposed to ‘constant’ dollars.
(more…)
Tags: Alex Carrick, build, construct, ConstructConnect, Economic, Economist
Comments Off on ConstructConnect’s June Starts Stumbled, but YTD Stayed Positive at +2%
Tuesday, June 20th, 2017
Article source: ConstructConnect
ConstructConnect announced today that May construction starts, excluding residential activity, were +5% versus April. The modest rise fell a little short of the usual percentage change between April and May, due to seasonality, of +8%.
Versus May of last year, nonresidential starts in the fifth month of this year were +2.0%.
Compared with January through May of last year, the year-to-date volume of starts in 2017 has been +1.9%.
The starts figures throughout this report are not seasonally adjusted (NSA). Nor are they altered for inflation. They are expressed in what are termed ‘current’ as opposed to ‘constant’ dollars.
‘Nonresidential building’ plus ‘engineering/civil’ work accounts for a considerably larger share of total construction than residential activity. The former’s combined proportion of total put-in-place construction in the Census Bureau’s April report was 56%; the latter’s was 44%.
ConstructConnect’s construction starts are leading indicators for the Census Bureau’s capital investment or put-in-place series. Also, the reporting period for starts (i.e., May 2017) is one month ahead of the reporting period for the investment series (i.e., April 2017.)
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Tags: Alex Carrick, architect, build, Connect, construct, Economic, Economist, home, house, job, market
Comments Off on ConstructConnect’s YTD Starts +2% after May’s Rise of +5%
Friday, June 16th, 2017
Article source: ConstructConnect
The accompanying table records the top 10 project starts in the U.S. for May 2017.
There are several reasons for highlighting upcoming large projects. Such jobs have often received a fair amount of media coverage. Therefore, people in the industry are on the lookout for when jobsite work actually gets underway. And, as showcase projects, they highlight geographically where major construction projects are proceeding.
Also, total construction activity is comprised of many small and medium-sized projects and a limited number of large developments. But the largest projects, simply by their nature, can dramatically affect total dollar and square footage volumes. In other words, the timing and size of these projects have an exaggerated influence on market forecasts.
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Tags: Alex Carrick, architect, build, Connect, construct, ConstructConnect, Economic, Economist, home, house, job
Comments Off on Top 10 Project Starts in the U.S. – May 2017
Tuesday, June 13th, 2017
Article source: ConstructConnect
Clichés are often true and it is the case that a picture can be worth a thousand words.
Below are six graphs recording 12-month moving averages of ConstructConnect ’s nonresidential construction starts.
When the value of the current month is higher than for the same month a year ago, the line will turn up; when lower, it will dip.
String a couple of similar positive or negative directional changes together over several months and one has a trend.
And that’s what the graphs are designed to do, show improving or deteriorating trends in a dozen major and more granular categories of construction work. (more…)
Tags: Alex Carrick, architect, build, ConstructConnect, Contruct, Economic, Economist, house, job, market
Comments Off on Nonresidential Construction Starts Trend Graphs – May 2017
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