Log in

Business News

<< First  < Prev   1   2   3   4   5   Next >  Last >> 
  • Tue, June 01, 2021 1:05 PM | Anonymous member (Administrator)

    The U.S. Census Bureau announced the “put in place construction” spending during April 2021 was estimated at a record seasonally adjusted annual rate of $1,524.2 billion, 0.2 percent above the upward revised March estimate of $1,521.0 billion. The April figure is 9.8 percent above the April 2020 estimate of $1,387.9 billion. During the first four months of this year, construction spending amounted to $452.3 billion, a healthy 5.8 percent above the $427.3 billion for the same period in 2020. 

    Read more here.


  • Tue, May 04, 2021 4:07 PM | Anonymous member (Administrator)

    Construction spending during March 2021 was estimated at a seasonally adjusted annual rate of $1,513.1 billion, amount to a small 0.2 percent above the downward revised February estimate of $1,509.9 billion. The March figure is 5.3 percent above the March 2020 estimate of $1,436.7 billion. During the first three months of this year, construction spending amounted to $328.3 billion, a steady 4.5 percent above the $314.1 billion for the same period in 2020.

    READ MORE


  • Thu, April 01, 2021 4:04 PM | Anonymous member (Administrator)

    Construction spending during February 2021 was estimated at a seasonally adjusted annual rate of $1,516.9 billion, 0.8 percent below the revised January estimate of $1,529.0 billion. The February figure is 5.3 percent above the February 2020 estimate of $1,441.1 billion. During the first two months of this year, construction spending amounted to $213.2 billion, still healthy 4.9 percent above the $203.2 billion for the same period in 2020.

    READ MORE


  • Mon, March 01, 2021 3:58 PM | Anonymous member (Administrator)

    Construction spending during January 2021 was estimated at a seasonally adjusted annual rate of $1,521.5 billion, 1.7 percent above the upward revised December estimate of $1,496.5 billion. The January figure is 5.8 percent above the January 2020 estimate of $1,437.7 billion. Nearly ALL of the spending increase occurred in residential private sector (approx. $22 of the +$25 billion total increase), leaving the other areas roughly at a typical pace of change.

    PRIVATE CONSTRUCTION:

    Spending on private construction was at a seasonally adjusted annual rate of $1,160.0 billion, also was 1.7 percent above the revised December estimate of $1,140.9 billion. Residential construction was at a seasonally adjusted annual rate of $713.0 billion in January, a healthy 2.5 percent above the revised December estimate of $695.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $447.0 billion in January, 0.4 percent above the revised December estimate of $445.2 billion.

    READ MORE

  • Mon, February 01, 2021 4:42 PM | Anonymous member (Administrator)

    Construction spending during December 2020 finished strongly with an seasonally adjusted annual rate at $1,490.4 billion, 1.0 percent above the revised November estimate of $1,475.6 billion. The December figure is 5.7 percent above the December 2019 estimate of $1,410.3 billion. The value of construction in 2020 was $1,429.7 billion, 4.7 percent above the $1,365.1 billion spent in 2019. While growth of any amount is a huge accomplishment (if not feat) during the turbulent pandemic and shutdowns seen in 2020, the construction numbers across market segments aren’t as robust as first glimpsed, with virtually all of the $64.6 billion dollars in overall growth was accomplished in only residential construction increases (i.e., $63.2B) for the year.  READ MORE


  • 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....

<< First  < Prev   1   2   3   4   5   Next >  Last >> 

Construction Industry Round Table (CIRT)  ·  8115 Old Dominion Dr., Suite 210  McLean, VA  22102-2325  · (202) 466.6777  ·  cirt@cirt.org  · Legal Notices
Copyright 2018 · All Rights Reserved.

Powered by Wild Apricot Membership Software