Industry News




 

08/06/2012

Construction Outlook Improving?

 
The outlook for all things design and construction looks to be improving as we head into 2013.

The design and construction industry looks like it may have reasons to be modestly optimistic regarding the months ahead and 2013.

A spike in demand for industrial facilities so far this year, along with sustained demand for hotels and retail projects factors into what projects to be a 4.4% rise in spending this year for nonresidential construction projects – up from a projection of a 2.1% increase in the January Consensus Forecast. The American Institute of Architects (AIA) semi-annual Consensus Construction Forecast, a survey of the nation’s leading construction forecasters, also projects a 6.2% increase of spending in 2013.

“With companies looking to bring back manufacturing jobs from overseas, there has been a sharp rise in demand for industrial facilities, which is leading to an upward revision in projections for future construction spending,” says AIA Chief Economist, Kermit Baker, PhD, Hon. AIA. “Continued budget shortfalls at the state and local level, along with a depressed municipal bond market are holding the institutional market back from seeing similar upticks in spending.”

Market Segment Consensus Growth Forecasts

2012

2013

 

 

 

Overall nonresidential

4.4%

6.2%

 

 

 

Commercial / industrial

5.7%

10.2%

    • Industrial

12.9%

8.1%

    • Hotels

9.5%

18.2%

    • Retail

6.2%

9.0%

    • Office buildings

4.7%

8.7%

 

 

 

Institutional

0.7%

3.0%

    • Healthcare facilities

4.0%

7.5%

    • Education

0.3%

1.1%

    • Amusement / recreation

0.1%

2.3%

    • Public safety

0.0%

0.1%

    • Religious

-5.0%

3.0%

Remarking on what risks exist that could undermine these projections, Baker added, “Federal tax and spending changes – the so-called fiscal cliff – that may come into play in early 2013 could upset the economic applecart and prove detrimental to recovery possibilities. We will likely have a better sense after the presidential election what will happen with regards to the Bush-era tax cuts, Social Security payroll tax, extended unemployment, and deficit reduction plans that will have a ripple effect that will extend to the construction industry.”

 


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http://news.mehvac.com/hhlaunch/


Visit our website today to learn about the design flexibility of a Morton building and the endless possibilities of partnering with our designBUILD team.


Wood construction is both cost and energy efficient. Check out Morton Buildings and our designBUILD team online today to discover all the benefits of post-frame construction.


When choosing a metal-clad building for your next construction project, consider Morton Buildings, Inc., and their designBUILD team, we’ll make your dream a reality.

We Can Help You Reduce Energy by 30%

Our mission is to help our customers manage their buildings' energy costs, improve reliability, and enhance performance while having a positive impact on the environment.
CLICK HERE to find out how.

Mitsubishi Electric Cooling & Heating’s new H2i R2-Series heat pumps provide year-round comfort, even in extreme climates. With 100% heating capacity down to 0° F outdoor ambient and simultaneous heating and cooling down to -4° F, our hyper-heating systems bring highly responsive multi-zone comfort to your projects, regardless of climate zone.

http://news.mehvac.com/hhlaunch/


 
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03/23/2015

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03/18/2015

Efforts to minimize climate change may be more effective than previously thought.

03/17/2015

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Report shows wind becoming cost competitive in more states.

03/13/2015

Study shows “fragrances” may be more than they appear.

03/12/2015

New energy storage configurations could cut costs.

03/11/2015

Program will streamline certification processes, code familiarity.

03/06/2015

Study shows buildings such as hospitals could cut energy use.

03/05/2015

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03/04/2015

Form will aid lenders in assessing value of sustainable design.

03/03/2015

Expanded choices offer climate-friendly solutions.

03/02/2015

New technology could slash consumption up to 30%.

02/27/2015

Design is low-cost and green while providing more energy storage.

02/26/2015

LEED, IgCC, Standard 189.1 will work in harmony.

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