Business & Finance

    The Interest Rate Hike Is Slowing Construction

    Following the Federal Reserve’s recent increase in interest rates, consumer confidence has plummeted, manufacturing imports have decreased, and housing markets are cooling. The rate hike is the largest since the 1980s, CNBC reports. A corresponding decline in consumer sentiment and spending has been followed more recently by a slowdown in purchases of home appliances, DIY products, and construction materials. On the flip side, demand for clothing and sporting goods remains strong, perhaps due to vacation, return-to-work, and back-to-school shopping. Spending… Read More »The Interest Rate Hike Is Slowing Construction

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      Connected Construction: The Owners’ Perspective

      This SmartMarket Brief is the first in a series that reveals how the industry is capitalizing on digital workflows to improve connections within organizations and across project teams in order to have improved project outcomes and experience benefits to their organization. This Brief focuses on owners and demonstrates that they are critical to help drive the use of these workflows across the rest of the design and construction industry.

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        Dodge Momentum Index Recovers in February

        The Dodge Momentum Index increased 4% in February to 158.2 (2000=100), from the revised January reading of 151.9. The Momentum Index, issued by Dodge Construction Network, is a monthly measure of the initial report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. In February, institutional planning rose 9%, and commercial planning moved 1% higher. The Dodge Momentum Index rebounded from three consecutive monthly declines that followed a 14-year high… Read More »Dodge Momentum Index Recovers in February

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          Andersen Invests in See-Through Solar Technology

          Window and door manufacturer Andersen Corporation is doubling down on solar power with an investment in Ubiquitous Energy, a company whose transparent photovoltaic technology converts light into electricity using semiconductor materials while maintaining visual transparency. Ubiquitous Energy’s UE Power™ technology is the only patented photovoltaic glass coating that harnesses solar power to generate electricity, while remaining almost indistinguishable from traditional windows. The renewable energy generation can be used for self-contained, on-board power and smart-home functionality, or to offset energy consumption elsewhere.… Read More »Andersen Invests in See-Through Solar Technology

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            Survey Shows Healthy Business Conditions for Civil Contractors

            Each issue of the Dodge publication Civil Quarterly surveys civil engineers to track a variety of business conditions. One useful indicator measures contractors’ backlog—more specifically the ratio between their ideal amount of backlog to the current reality. According to the most recent survey, backlogs remained strong throughout 2021, with most civil contractors reporting close to their ideal backlog. No consistent pattern of change has emerged, with backlog ratios increasing or decreasing, but always remaining at 80 or above.

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              What Demographic Growth Slows, Population Shifts Could Mean for Your Business

              By Richard Branch, Chief Economist One of the biggest concerns facing the construction sector is “people.” For most of us in the industry, that concern is centered on the acute lack of skilled labor facing the sector.  I think, though, the “people” concern goes deeper than that. At the end of the day, what we do is build things for people: homes, roads, schools, etc. However, population growth in the U.S. is slowing. According to the U.S. Census Bureau, total… Read More »What Demographic Growth Slows, Population Shifts Could Mean for Your Business

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                What’s in Store for the Construction Recovery, in Whoville and Beyond?

                By Richard Branch, Chief Economist As the calendar turns over to a new year, the recovery in construction starts is gaining traction. Through the first 11 months of 2021, total construction starts are up 13% on a year-to-date basis over 2020. Nonresidential building starts are up 11% thanks to gains in warehouse, recreation, and manufacturing starts. Residential building starts have risen an incredible 20% on a year-to-date basis as multifamily construction picks up speed, while single family pauses. Nonbuilding starts,… Read More »What’s in Store for the Construction Recovery, in Whoville and Beyond?

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                  Adapt And Thrive In An Evolving Market

                  While the quarantine from the pandemic is coming to an end, its impact on the construction sector will be felt for years to come. The nascent recovery in construction activity will be shaped by the numerous challenges facing the sector. But with every challenge, there is an opportunity that will allow your business to grow and increase profitability.

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                    COVID, Supply Chain Disruption, and the Price of Steel

                    Is uncertainty making it hard to plan for the future? Tabitha S. Stine, the director of construction solutions services at the steel and steel products company Nucor, has a strong sense of what the construction industry can expect. In her presentation for Outlook 2022, she draws connections between COVID-19, supply chain disruptions, the price of steel, and near- and mid-term prospects for the construction industry and the economy writ large. In the long-term, material prices continue to rise: From Jan.… Read More »COVID, Supply Chain Disruption, and the Price of Steel

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                      Dodge 2022 Construction Outlook: Four Key Takeaways

                      In his webinar forecast for the U.S. construction market in the coming year, Dodge chief economist Richard Branch notes four primary trends. First, the current material shortages and high prices, driven in large part by supply chain blockages, will remain issues. Second, labor shortages will continue to bedevil contractors. Third, productivity gains will drive profitability. And fourth, changing demographics, market shifts, and other externalities will necessitate flexibility.

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