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According to an article in ENR: Engineering News-Record, economists predict that the recent interest rate cuts by the Federal Reserve will lead to an increase in new construction projects starting in 2025. The dollar value of construction starts has already increased by 4% in the first eight months of this year compared to the same period in 2023. Residential starts have risen by 8%, driven by a significant boost in single-family housing, while multifamily starts have decreased by 10%. Non-residential starts are 3% higher, with institutional starts in education and healthcare leading the way. Labor shortages continue to be a challenge, resulting in rising wages in the construction industry. Lumber prices have been fluctuating throughout the year but are expected to stabilize in 2025. The Bureau of Labor Statistics provides monthly and annual percentage changes for various construction materials, including asphalt paving, cement, concrete pipe, copper pipe, diesel fuel, fabricated steel, gypsum products, softwood lumber, plywood, PVC products, ready-mix concrete, sheet metal, and equipment. These changes are important for understanding the trends and costs in the construction industry. S&P Global Market Intelligence predicts that the start of the monetary policy easing cycle in the US will bring strength back to residential construction and increase demand for lumber. [Extracted from the article]

This article discusses the Best of the Best 2023 projects recognized by ENR (Engineering News-Record), which represent the highest achievements in U.S. design and construction. The projects include the Microsoft Thermal Energy Center, which features a geothermal heating and cooling system, and the Geowell drilling project, which used drone flights for assessment. Other projects highlighted include the Kings Bay Dry Dock Recapitalization project, the National Bio and Agro-Defense Facility (NBAF) project, the Orlando International Airport Terminal C, the Orange County Museum of Art, the 1021 O Street State Office Building, the UVA Inn at Darden - The Forum Hotel, the Mayo Clinic East Expansion, the John and Lile Gibbons Center for Arctic Studies and Barry Mills Hall at Bowdoin College, the Riverbend Meats Processing Plant, the Aston Martin Residences in Miami, the Primary Children's Hospital Hybrid Operating Room, the Martin Marietta Texas Quarry project, and the Gainbridge Fieldhouse in Indianapolis. These projects showcase unique features, sustainability efforts, and overcoming challenges. [Extracted from the article]

According to an article from ENR: Engineering News-Record, public construction projects are driving growth in the construction industry in the second quarter, while private construction is struggling. Residential and non-residential construction starts have increased, with a focus on single-family homes and institutional sectors like healthcare and education. Non-building starts have also seen significant growth due to the Infrastructure Investment and Jobs Act. Interest rates are expected to decrease in the second half of the year, potentially boosting construction activity. However, the industry is facing a labor shortage and rising wages. Lumber and steel prices have decreased recently. The article provides construction cost indexes and information on the movement of construction materials prices in 2024. The Bureau of Labor Statistics offers data on monthly and annual percentage changes for various construction materials, while S&P Global Market Intelligence provides forecasts for structural steel, cement, softwood lumber, and equipment. Publicly funded construction projects are performing better than private ones, according to Richard Branch, chief economist at Dodge Construction Network. The ENR Construction Cost Index and ENR Building Cost Index are calculated using a formula that includes portland cement, structural steel, lumber, and labor, with labor being the largest component. The labor rates in the indexes only change once per year due to annual contracts. [Extracted from the article]

The article anticipates a more consistent and accelerating economic growth in the construction market for 2024, with a focus on factors such as falling interest rates in the second half of the year, potential labor issues, geopolitical risks, and specific trends in residential, multifamily, and commercial construction. It also mentions that the Dodge Construction Network's forecast indicates an overall increase in construction starts in 2024.

The article focuses on the economic factors affecting the construction industry. It highlights the challenges faced by the industry, including inflation, labor shortages, and declining construction spending. It further emphasizes the mixed nature of the current economic situation, where some sectors has been thriving while others are facing difficulties.

The article focuses on the ENR (Engineering News-Record) Best of the Best Projects of 2022. It highlights the top 20 construction projects in the U.S. that were completed between May 2021 and May 2022. It is reported that the projects were selected based on their teamwork, safety, overcoming challenges, innovation, and quality.

The article discusses the ongoing challenges faced by the construction industry, with certain sectors faring better than others. It highlights issues such as higher interest rates, labor shortages, and tighter lending standards affecting construction activity, and predicts that these challenges will persist for some time, leading to a gradual recovery in the construction sector, particularly in the back half of 2024.

The article provides an outlook for the construction industry in 2023. Topics include economic factors that will continue to affect the industry such as inflation, rising interest rates and a possible global recession, Dodge Construction starts forecast for 2023, the decline of housing starts after years of strong growth due to higher interest rates, and the projected increase in highway and bridge work by the end of 2022.

The article discusses the changing landscape of the construction industry for women. It highlights the use of artificial intelligence (AI) in construction, with experts emphasizing the need for women to embrace AI tools and demand access to them. Women leaders in the energy transition sphere also share their experiences and encourage other women to break barriers. The article also addresses the role of women in public service and the importance of advocacy and allyship from male executives. The need for pay equity and attention to environmental, social, and governance (ESG) issues in the industry is also discussed. [Extracted from the article]

This article provides an overview of ENR's construction cost indexes, specifically the Construction Cost Index (CCI) and the Building Cost Index (BCI). The CCI uses common labor while the BCI uses skilled labor for specific trades. Both indexes measure the cost of purchasing standard materials compared to a base year. ENR obtains its data from local prices in 20 U.S. cities and does not average materials prices. The indexes measure trends within individual cities and the U.S. as a whole, but do not account for cost differences between cities. The indexes are not seasonally adjusted. The article also mentions that cement prices are more active in the spring, fabricated structural steel prices have monthly adjustments, and lumber prices are highly volatile. It addresses frequently asked questions about the indexes' accuracy, verifiability, and online availability. The article concludes with a historical table showing the construction cost index values from 1929 to 2023. [Extracted from the article]

The construction industry has experienced some growth in the first quarter of 2024, although it still faces challenges from previous years. Construction starts have fluctuated due to high interest rates, a scarcity of skilled labor, and high material prices. Residential starts for single-family homes have increased, but multifamily starts have decreased due to an oversupply of units. Non-residential starts have seen a slight increase, with positive activity in retail and hotel, but declines in warehouse and office buildings. Manufacturing starts have decreased due to labor shortages, while education, recreation, and transportation building starts have risen. Non-building starts have increased, driven by public funding for infrastructure projects. Lumber prices are expected to stabilize after a recent increase in supply concerns. Overall, the outlook for construction in 2024 is cautiously optimistic. [Extracted from the article]

The article presents profile of best 2021 construction companies. Topics include Omaha VA Ambulatory Care Center became the first project to put private money toward the construction of a Department of Veterans Affairs (VA) facility while using funds from available VA appropriations; and harbor in East Boston is not only home to a vibrant mixed-use community, is setting new standards for resilient and sustainable development.

The article announces the winners of the annual Global Best Projects Awards including Engineering Authority of Egyptian Armed Forces' project tackling wastewater; Meridian Port Services Ltd.'s Tema Port and Container Terminal Expansion in Ghana.

The article predicts a positive outlook for the construction industry in 2024, anticipating an economic easing and lower inflation. It is advised as interest rates are expected to stay high in the short term, impacting construction starts, with public projects thriving more than private ones. Topics include the economic outlook, challenges in the residential sector, non-residential project trends, and the forecast for building costs, particularly lumber prices.

The article highlights a report which shows that single-family starts declined 8 percent, while multifamily construction is up 28 percent from the same time in 2021. It discusses that the S&P Global third-quarter forecast for softwood lumber is virtually unchanged from the second-quarter forecast, expected to fall 4.1 percent in 2022 and drop another 28 percent in the next year.

The article reports that economic growth will continue but challenges with labor, materials and inflation persist. Topics include economic recovery has resumed following the setback in the third quarter, and construction should follow suit; and supply chains have been tripped up by burgeoning retail demand and COVID-19 impact on manufacturing.

The article addresses economic performance of the construction industry in the U.S. for the third quarter of 2021. Topics discussed include concerns about the Delta variant of the Covid-19 and its impact on the industry, according to Richard Branch, chief economist at Dodge Data & Analytics, performance of the single-family market, according to Branch, and decline in lumber prices.

According to a special report from ENR: Engineering News-Record, materials price increases have slowed down in the past year after years of volatility. The average yearly price for steel rose by 7.8% in 2023, while the overall Materials Cost Index increased by 4.4%. Both skilled and common labor also saw modest gains. The report explains that ENR's indexes are designed to indicate the basic underlying trends of construction costs in the U.S. and are based on construction materials that have a stable relationship to the economy. [Extracted from the article]

The article reports that Inflation and labor shortages remain ongoing issues within the construction industry as well as the broader U.S. economy. Topics include commodity prices have begun to stabilize following the extreme volatility of the past several years; and nascent recovery in construction starts from the pandemic will continue unabated despite rising costs and labor shortages.

The article presents an economic forecast in the U.S. for 2021, particularly the expected slow recovery from the COVID-19 pandemic of several segments of the construction industry. Also cited are the comment of Dodge Data & Analytics' Richard Branch on the significant economic slowdown that is expected to continue until the first half of 2021, and the factors that will adversely affect recovery like the end of moratorium on evictions and student loan repayments.

COVER STORY SPECIAL SECTION ECONOMICS As the COVID-19 pandemic recedes in the U.S. and restrictions on work and other interactions l are lifted, the construction sector's rebound is underway, with some markets bouncing back faster than others, analysts say. Consultant Rider Levett Bucknall reports that construction costs have increased 2.9% in the second quarter, the largest quarterly growth that the firm has recorded in its 20 years of data analysis. [Extracted from the article]

The article presents the overview of the differences between the building and construction cost indexes. It explores the difference between periodical's Construction Cost Index (CCI) and its Building Cost Index. It discusses that how indexes measure cost differences between cities, along with explores how cost indexes adjusted seasonally.

The article offers information on the impacts of the bank failures, high interest rates and stoke recession on the manufacturing and infrastructure construction industry in the U.S. It mentions the views of the Julian Anderson, president of Rider Levett Bucknall on the issues could lead to future problems.

The article informs about an expected increase in public works in the U.S. in 2020 according to economic forecasts analyzed by the periodical. It presents views of Richard Branch, chief economist at Dodge Data & Analytics, on economic conditions in the U.S. It also mentions about an expected increase in public works like construction of single-family housing, office buildings and educational buildings.

The article highlights the challenges faced by the industry jobs and career paths in the U.S. Topics discussed include information on the next generation to commit to construction will require changing perceptions of what its participants; discussions on the encourages employees to gain welder certifications and other special licenses; and the information on the partnership between unions and other trades’ groups and state unemployment offices that will create a new path into construction.

The article reports on the economic performance in the U.S. in the fourth quarter of 2022, particularly in the manufacturing and construction industries amidst challenges like high inflation, labor shortages, and supply chain disruptions. According to Dodge Construction's Richard Branch, total construction starts increased by 14% compared to the same period in 2021. Also cited is how funds from new laws like the Inflation Reduction Act could bolster construction activities in 2023.

The article reports on the state of the U.S. construction industry in the first five months of 2020. Topics covered include the decline of the overall construction starts as the global coronavirus disease-2019 (COVID-19) continues, the negative impact of the pandemic and recession on the sector, and the stability of the construction material prices during the period.

The article discusses the forecast of Dodge Data & Analytics for the U.S. construction industry in 2019. Topics include the decline in multifamily and other housing work, the increase in transportation projects in line with the government's infrastructure plans and the rise in institutional buildings which is attributed to the increase in education construction.

The article focuses on the latest global cost analysis by Turner & Townsend, which reveals that the U.S. is now the most expensive country for construction, with six American cities ranking among the top ten.

The article reports that the fall in public works with the fall in utility work, weak industrial markets and slow growth in residential construction, lead to the slow growth in general construction industry in 2017. It mentions that total construction rose by 13 percent in 2015 but the growth rate falls to 5 percent in 2016.

The article offers information on the revenue of various construction firms as per ENR New York's Top Contractor list. The article mentions projects of these firms including mega project developed by AECOM Tishman, commercial space at Brooklyn Navy Yard Dock by Gilbane Building Co and the construction of tallest building in New Jersey by Plaza Construction. The list of building contractors firms include Structure Tone, Turner Construction Company and Lendlease.

The article lists the top architectural firms in New York including, HNTB Corp., Greenman-Pedersen, and AECOM.

The article discusses the first 100 days in office of U.S. President Donald Trump and its impact on the construction industry.

The article offers information on several young professionals in the construction and engineering industries in New York City and their effects to the community. It mentions Sergio Callen, business development manager at Atkins and his involvement in the development of best practices in high-speed rail systems. It cites Highmark co-founder Richard Gerbe who has partnered with Franklin Control Systems to raise $100,000 for his cause to defeat ALS.

The article offers information about the rise in the construction indexes which measures the costs of non-residential buildings, along with mentions that housing market has had a major impact on index movement. It discusses that indexes have been designed to indicate the basic underlying trends of construction costs in the U.S.

The article presents the discussion on the overview of differences between the building and construction cost indexes. Topics include Construction Cost Index (CCI) used when labor costs showing a high proportion of total costs; and differentials between cities reflecting differences in labor productivity and building codes.

The article presents the discussion on contractors facing several ongoing issues including sky-high materials prices and staff shortages. Topics include contractors being no longer willing to take on the risk of cost escalation and putting the risk back on owners; and domestic producers expecting to seek more control over the supply chains in the future.

The article focuses on the financial performance of construction firm Hahne and Co. which shows the rise in revenue due to the continued strength in residential construction. It mentions that current residential buildings under construction and the firm is involve in the significant increase in public sector. It presents the views of Richard T. Anderson, Building Congress president, on the same.

The article discusses that the construction industry continues to cope with cost challenges related to labor, materials shortages and inflation. It mentions that the average cost increase in 2020 through 2021 was 4.73%, says Julian Anderson, president of industry cost consultant Rider Levett Bucknall, adding that bid construction costs have risen 7.42%.

The article discusses the Global Construction Summit held in New York City on October 23, 2017, sponsored by Engineering News-Record and Marcum. It mentions the discussion headed by economist Anirban Basu who revealed that construction industry in U.S. has seen a growth of just 2.2% this year, with annual growth not hitting 3% since 2005. The article adds information on cross-border mergers and acquisition and growing trend of megaprojects.

The article reports on the ongoing construction of the Jerome L. Green Science Center and Lenfest Center for the Arts of the Columbia University in 2017 in the U.S.

Women need to switch companies and jobs more often and have a higher level of education in order to be promoted in the construction industry, according to research data from the University of Maryland. Pay inequity tends to occur over time, with women being overlooked for promotions or higher salaries because firms have internal biases built into their systems, Walgram said. [Extracted from the article]

The article presents questions and answers related to the differences between the building and construction cost indexes including difference between ENR's Construction Cost Index (CCI) and its Building Cost Index (BCI); and what kinds of construction are represented in the ENR indexes.

The article discusses that the COVID-19 pandemic, significant progress has been made toward economic recovery following the initial recession, a long road ahead remains, particularly in construction. It mentions that the economic headwinds felt in 2020 are quickly turning into a stiff tailwind in 2021 as additional federal stimulus makes its way to individuals and businesses in desperate need.

The article presents the discussion on ENR's indexes measuring the costs of non-residential buildings and the housing market having a major impact on index movement. Topics include aggregating index of the prices of a constant quantity of structural steel, portland cement, lumber and common labor; and Building Cost Index (BCI) weighing the impact of skilled labor wage changes on overall costs.

The article inform Economic growth is slowing, weighed down by rising COVID- 19 infections and fading government support. Topic include according to Automobile manufacturer, with notable drops in the commercial, institutional and manufacturing sectors, non-residential building starts down 25% on a year-to-date basis.

The article reports on the construction plan of mechanical construction services company Fresh Meadow Mechanical Corp., on venturing into heating, ventilation and air condition construction services for the Columbia University's new Manhattanville Campus in upper Manhattan, New York City.