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  • Fri, January 15, 2021 11:57 AM | Anonymous member (Administrator)

    The first quarter of 2021 CIRT Sentiment Index Report results show signs of recovering confidence for both the Sentiment Index and the Design Index. The general Index increased slightly from last quarter, from 54.2 to 55.5, while the subset Design Index remained constant at a higher 64.8, which is a pre-pandemic and shutdown level. Taken together, both suggest continued and improving demand in the future.  

    For the full report, please read: “CIRT Sentiment Index, 2021 First Quarter Report”


  • Tue, January 05, 2021 5:09 PM | Anonymous member (Administrator)

    Construction spending during November 2020 set another RECORD seasonally adjusted annual rate at $1,459.4 billion, 0.9 percent above the upward revised October estimate of $1,446.9 billion. The November figure is 3.8 percent above the November 2019 estimate of $1,405.5 billion. Most of the gains were in the housing/residential markets (+$17 billion), while nonresidential slipped some $3.8 billion.  During the first eleven months of this year, construction spending amounted to $1,314.1 billion, a very respectable 4.4 percent above the $1,258.8 billion for the same period in 2019.

    Read more


  • Wed, December 02, 2020 1:03 PM | Anonymous member (Administrator)

    Construction spending during October 2020 was estimated at a RECORD seasonally adjusted annual rate of $1,438.5 billion, 1.3 percent above the upward revised September estimate of $1,420.4 billion. Most of the increase spending (approximately $15 billion) came in the residential sector, as housing continues a very strong rebound, offset by some slippage in non-residential of $3.3 billion.  Augmenting the positive movement was higher public sector spending especially at the federal level resulting from the impact of a new fiscal year budget. The October figure is 3.7 percent above the October 2019 estimate of $1,386.8 billion. During the first ten months of this year, construction spending amounted to $1,189.6 billion, 4.3 percent above the $1,140.4 billion for the same period in 2019. 

    Continue reading...

  • Thu, November 19, 2020 3:30 PM | Anonymous member (Administrator)

    As part of the CIRT Fall Conference in Arizona, Forbes Publisher and Futurist, Rich Karlgaard, discussed the changes possible in the U.S. economy and society that will divide along the lines he defined as “bits vs. atoms” (or virtual/IT vs. physical wealth and activities). Along this same theme, a recent article entitled “Construction Tech Startups are Poised to Shake-up a $1.3-trillion-dollar Industry” by Allison Xu, posits the same kind of tension within the industry itself. The article contends that the long term results of the disruptions caused by the pandemic and shutdowns will be the acceleration of IT impacts on the methods, means, and processes for construction projects.

    Some of the key elements or categories that will drive the changes and players seeking to fill the space were identified in the article:

    • Project conception: “Design software such as Spacemaker AI can help developers create site proposals, while construction loan financing software such as Built Technologies and Rabbet are helping lenders and developers manage the draw process in a more efficient manner.”
    • Design & Engineering: “Of all the elements of the construction process, the design and engineering process itself is the most technologically sophisticated today, with relatively high adoption of software like Autodesk to help with design documentation, specification development, quality assurance and more. Autodesk is moving downstream to offer a suite of solutions that includes construction management, providing more connectivity between the teams.”
    • Pre-Construction: “Marketplaces like Sweeten help connect contractors to projects, while digital workflow platforms like SmartBid and Building Connected help general contractors reduce the time and administrative burden of managing complex bid processes. Solutions like Alice Technologies take a predictive approach, using machine learning to optimize productivity.”
    • Construction Execution: “There are several software-led approaches to managing execution complexity, including field management tools like Rhumbix, on-site safety management software like Safesite, or site-visualization tools like OpenspaceOnSiteIQ or Smartvid.io. Other companies have taken a full-stack approach to disrupting the construction process. Mosaic, for example, uses proprietary software to turn construction plans into detailed manuals that allow a build to be performed with fewer, less specialized laborers.
    • Post Construction: “Most commonly, project management tools will offer a module to help manage this process, though some targeted solutions like Pype or Buildr focus on digitizing the closeout process.”
    • Construction Management & Operations: “The nuances of the multi stakeholder construction process merit value in a verticalized approach to managing the project. Construction management tools like ProcoreHyphen Solutions and IngeniousIO have created ways for contractors to coordinate and track the end-to-end process more seamlessly. Other players like Levelset have taken a construction-specific approach to functions like invoice management and payments.”

    For the details see, Construction Tech Startups are Poised to Shake-up a $1.3-trillion-dollar Industry by Allison Xu.

  • Mon, November 02, 2020 2:12 PM | Anonymous member (Administrator)

    Setting a new record, construction spending during September 2020 was estimated at a seasonally adjusted annual rate of $1,414.0 billion, 0.3 percent above the revised August estimate of $1,410.4 billion. The September figure is 1.5 percent above the September 2019 estimate of $1,393.3 billion. The largest gain ($11.7 billion) was registered in residential spending (offsetting some slippage in non-residential), while overall public sector spending dropped over $12 billion. During the first nine months of this year, construction spending amounted to $1,058.5 billion, a solid 4.1 percent above the $1,016.7 billion for the same period in 2019.

    PRIVATE CONSTRUCTION:

    Private Construction Spending on private construction was at a seasonally adjusted annual rate of $1,074.9 billion, 0.9 percent above the revised August estimate of $1,065.6 billion. Residential construction was at a seasonally adjusted annual rate of $610.9 billion in September, 2.8 percent above the revised August estimate of $594.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $464.1 billion in September, 1.5 percent below the revised August estimate of $471.3 billion. 

    READ MORE....

  • Thu, October 15, 2020 1:09 PM | Anonymous member (Administrator)

    The latest CIRT Sentiment Index Report for the 4th Quarter of 2020 has been released with some positive expectations voiced by the members for the coming months. Results from the survey show a continued return to confidence, seen in both the overall Sentiment Index and in the Design Index segment which both finished over the neutral line of fifty since the first quarter of this year. The Sentiment Index increased slightly rising from 52.1 to 54.2; while the Design Index element improved more aggressively from 49.3 to 64.8.

    In addition to the index, the report also includes current issues questions regarding major impacts (both positive and negative) to the economy; as well as estimates of business performance comparing 2020 and 2021.  Read the FULL report here.


  • Thu, October 01, 2020 6:26 PM | Anonymous member (Administrator)

    Hitting a record high, construction spending during August 2020 was estimated at a seasonally adjusted annual rate of $1,412.8 billion, 1.4 percent above the significantly upward revised July estimate of $1,392.7 billion. The August figure is 2.5 percent above the August 2019 estimate of $1,379.0 billion. The “lion share” of the growth was on the private sector side, which appears to be rebounding from the pandemic and shutdowns under the current economic stewardship, driving the total above the 1.4 Trillion dollar mark for the first time ever. During the first eight months of this year, construction spending amounted to $927.7 billion, a reassuring 4.2 percent above the $889.9 billion for the same period in 2019.

    Read more HERE



  • Tue, September 01, 2020 12:03 PM | Anonymous member (Administrator)

    Construction spending during July 2020 was estimated at a seasonally adjusted annual rate of $1,364.6 billion, 0.1 percent above the revised June estimate of $1,362.8 billion. The July figure is 0.1 percent below the July 2019 estimate of $1,366.0 billion. During the first seven months of this year, construction spending amounted to $792.6 billion, 4.0 percent above the $761.9 billion for the same period in 2019.

    READ MORE


  • Sat, August 01, 2020 4:35 PM | Anonymous member (Administrator)

    Construction spending during June 2020 was estimated at a seasonally adjusted annual rate of $1,355.2 billion, 0.7 percent below the revised May estimate of $1,364.7 billion. The June figure is 0.1 percent above the June 2019 estimate of $1,354.1 billion. During the first six months of this year, construction spending amounted to $667.9 billion, 5.0 percent above the $636.0 billion for the same period in 2019.   READ MORE


  • Thu, July 16, 2020 1:00 PM | Anonymous member (Administrator)

    CIRT convened a short 30-minute webinar to examine the findings of a survey conducted by APCO Worldwide on behalf of the Round Table. The Insight Survey focused on the role of the design/construction community related to the nation's recovery from the pandemic and shutdown; as well as also provided interesting insights as to the public's perception of the industry as a whole. The purpose of the webinar was to provide a brief walk-through of the findings; and then to allow the participants to ask questions as well as provide comments and/or insights.

    CIRT commissioned the survey in conjunction with the Op-Ed entitled “The Road Ahead Beyond Pandemics and Shutdowns,” which was published on July 10th.  By teaming with APCO to help craft the issues that were essential to better understand how the industry is viewed by the public, findings from the Insight Survey were used to support the two essential points of the opinion piece. CIRT will continue to look for opportunities to work with APCO on these critical matters; as can individual member firms when such expertise is called for or needed.

    NOTE: The APCO Insight Survey is available for dissemination and use by member firms.  If you missed the live broadcast, here are the materials from the event:  Information from CIRT/APCO Webinar.  
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