GDP ended 2015 strongly with an annual estimated growth rate of 2.4%. The overall U.S. economy continues to improve. Positive economic conditions continue to support growth in demand for nonresidential construction. The nonresidential construction sector enjoyed double-digit growth in 2015, and strong momentum is expected to continue in 2016. The AIA’s semi-annual Consensus Construction Forecast, […]
Current Business Conditions Index Slips Again in June, While Future Conditions Index Gains Ground
NEMA’s Electroindustry Business Conditions Index (EBCI) for current conditions in North America declined for a third straight month in June. The index fell to 47.2 from 50 a month ago and from 54.8 in April as a higher proportion of panelists reported business conditions deteriorated in June than reported they improved. In contrast, the EBCI […]
DOE Profiles Commercial Building Stock
The U.S. Department of Energy (DOE) has begun releasing results from the 2012 Commercial Buildings Energy Consumption Survey (CBECS). The CBECS is an estimated profile of the U.S. commercial building stock based on an interviewed sampling. Information includes number of buildings, floorspace, age, building type, region, energy consumption, end-use equipment and more. DOE defines a […]
Little Change in NEMA’s Business Conditions Indexes between February and March
NEMA’s Electroindustry Business Conditions Index (EBCI) for current conditions in North America was largely steady for a third straight month in March as the index inched up to 58.3 from 57.9 in February and 57.5 in January. The survey’s measure of the mean degree of change in current North American conditions firmed in March, climbing […]
2015 Nonresidential Construction Forecast: Growth Across All Markets
The overall economy continues to improve, with all major economic indicators signaling a trajectory of continuing growth. GDP ended 2014 very strongly, with forecasts calling for 3% growth in 2015. Business confidence reached a level of 61, signaling average belief in expansionary business conditions. Economic conditions are supporting growth in demand for construction activity, particularly […]
2014 Construction Forecast: Private Nonresidential Building Activity Poised for a Rebound in 2014
Growth in construction spending in 2013 continued to outpace the U.S. economy. Estimated total put-in-place construction spending—actual numbers, not seasonally adjusted—grew at a healthy 4.8% in 2013, increasing to about $900 billion. This rate was slower than the previous year’s increase of 9.2%, however. The residential market saw the biggest gains, as a robust market […]
2013 Nonresidential Construction Forecast: Steady Improvement
Despite a national recovery from the recession in 2009, construction activity in the United States continued to spiral downward in following years. Total construction spending declined to under $800 billion in 2011 from its peak of more than $1 trillion in 2008. In 2012, the market turned a corner and achieved a level of growth […]
2012 Nonresidential Construction Outlook: A Modest Recovery
Although the national economic recovery is now two and a half years old, construction spending has continued to contract. A multitude of factors prevented a recovery for this beleaguered industry in 2011. Lenders that have been extremely reticent to finance construction projects, budget shortfalls at all levels of government, the ripple effect of overbuilding, depletion […]
2011 Construction Outlook: Delayed Recovery for Nonresidential Market
While activity for institutional projects should hover near 2010 levels, there is likely to be a modest decline in commercial construction in 2011, according to the AIA Consensus Construction Forecast Panel. Overall nonresidential construction spending is expected to decrease by 2% for the year. The Panel believes 2012 will produce stronger gains, however, with overall building construction rising about 5%, with growth twice the rate of the more cyclical commercial sector. This construction outlook reviews the year’s top line construction numbers, shows where leading construction and electrical industry indicators are trending, and provides a summary of the latest AIA Consensus Construction Forecast for 2011.
2010 Construction Outlook: “Nonresidential Construction Still Mired in a Steep Downturn”
This construction outlook reviews the year’s topline construction numbers, examines the directions that leading construction and electrical industry indicators are pointing, and provides a summary of the latest AIA Consensus Construction Forecast for 2010.