News

Despite a harsh winter, year-over-year construction spending has increased by the greatest amount since 2006, according to an analysis of Census Bureau data by the Associated General Contractors of America (AGC).

Less activity than expected in nonresidential construction during the first part of 2013 — in particular, institutional projects — has caused the participants in the American Institute of Architects’ semi-annual Consensus Construction Forecast to reduce their projections of construction spending for the rest of the year — although they have raised their projection for next year’s spending, to an increase of 7.6%.

Spending on construction and design will increase by 5.8% in 2014 and by 8% in 2015, according to the Consensus Construction Forecast.

Fewer construction firms plan to make layoffs in 2012 than in recent years, according to survey results included in the Associated General Contractors of America’s 2012 Construction Industry Hiring and Business Outlook.

The cost of construction materials decreased 0.2 percent in December but were 5.3 percent higher than a year earlier, according to an analysis of producer price index figures by the Associated General Contractors of America (AGC).

Rising numbers of nonresidential construction jobs — likely spurred on by warmer than expected weather — led to an additional 17,000 construction jobs in December, according to an analysis of federal employment data by the Associated General Contractors of America (AGC).

Construction spending reached $807 billion in November 2011, the highest level since June 2010, according to an analysis of Census Bureau data by the Associated General Contractors of America (AGC).

As energy costs continue to rise, the Department of Housing and Urban Development is urging for senior housing units to become more energy-efficient. HUD’s Fiscal Year 2010-2015Strategic Plan called for better energy efficiency in all of its housing units, which would bring about an overall reduction in energy costs and thus allow more rental subsidies.