With increasing demand for design services, the Architecture Billings Index (ABI) is continuing to strengthen. The ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the February ABI score was 54.9, up slightly from a mark of 54.2 in January.
Due to the continual decline of construction employment over the past five years, many contractors are concerned about the availability of skilled workers now that hiring in the industry has resumed. Many former construction workers have left for other industries or retired.
For the first time, ż members responded to a survey that gathered information for a market report on green schools. McGraw-Hill published “The New and Retrofit Green Schools SmartMarket Report” in March 2013. As a benefit of their participation, ż members can access the report for free by clicking on this link.
Construction employment increased in 158 out of 339 metropolitan areas between February 2012 and February 2013, declined in 132 and was stagnant in 49, according to a new analysis of federal employment data released today by the Associated General Contractors of America. Association officials noted that the industry's long-awaited recovery could prove fleeting if public construction spending continues to decline and a reported immigration reform deal could undermine efforts to recruit skilled workers.
Construction spending rebounded in February with gains from depressed January levels in residential, private nonresidential and public investment, according to an analysis of new Census Bureau data by ż of America. Association officials cautioned that the rise in public investment was likely to be short-lived and urged policy makers in Washington to make infrastructure investment a priority.
The ż Building Division continues to grow our social media presence through LinkedIn and Twitter in order to better facilitate information sharing and dialogue between us and members. Follow the Building Division @żBuildingDiv.
The U.S. Green Building Council (USGBC) has announced the last public comment period, open March 1 through March 31, 2013, on the fourth version of its Leadership in Energy and Environmental Design (LEED) Green Building Rating System. USGBC membership will vote on LEED v4 this summer.
The Real Estate Roundtable recently released their Q1-2013 Sentiment Survey. The survey is the commercial real estate industry’s most comprehensive measure of senior executives’ confidence in the industry. The survey receives the opinions of CEOs, presidents and other top executives on the following topics: overall real estate conditions, access to capital markets and real estate asset pricing.
The AIA’s Architecture Billings Index (ABI), a leading indicator of U.S. construction activity over the next nine to 12 months, had the strongest reading in January – at 54.2 – that it has seen in five and a half years. January was the sixth consecutive month that the ABI experienced continual growth.
ż of America hosted its 94th Annual Convention in Palm Springs, CA, March 6-9, 2013. The Convention was extremely successful with over 2,000 attendees and offering many educational and networking opportunities. With the close of the Convention, the Building Division welcomed new leadership for the 2013-2014 year. Eric Hedlund, Executive VP & COO, Sundt Construction, Inc., becomes Chairman of the Building Division and Rick Andritsch, Partner/VP, VJS Construction Services becomes Vice Chairman. Terry Wooding, Executive VP, Petra Construction Corporation becomes Immediate Past Chairman. Phil Beck, Partner, Smith Currie & Hancock, LLC becomes the Contract Documents Forum chair.