Industry News




 

03/08/2010

Construction Spending Falls to Lowest Level in 7 Years

 
Construction Spending Falls to Lowest Level in 7 Years

Declining investments in private-sector non-residential construction and public construction at all levels of government drove a decrease in construction spending of 0.6 percent. According to an analysis of new federal figures by the Associated General Contractors of America (AGC), construction spending in January fell by $5.5 billion to $884 billion – the lowest level since June 2003.

“What’s clear from the data is that the downturn in non-residential construction spending is far from over,” says Ken Simonson, chief economist for AGC. “Federal funding for construction is one of the few crutches propping up a deeply wounded construction industry.”

Additionally, Simonson noted that private non-residential construction spending fell 2.1 percent between December and January, and by 20 percent over the past year. However, two major categories of federally-driven transportation spending – public highway and street construction and other transportation construction – increased by 6 and 18 percent respectively.

Direct federal construction spending increased 1.9 percent in January and 13 percent over the past 12 months to a record $31 billion. “Federal funding has been giving contractors the lifeline they need to stay in business,” says Simonson. However, the federal transportation program expired Feb. 28, putting many construction jobs at risk. “Without federal funds, total spending on highway and transportation projects is sure to plummet this year,” says Simonson.

“Even a temporary halt to the federal transportation program will have a disruptive impact on an industry coping with staggering declines in construction activity,” says Simonson. “With federal work coming to a halt and many states wondering whether to put their transportation programs on hold, construction layoffs and closures are likely to accelerate.”

Officials from the Associated General Contractors of America urged Congress to act quickly to renew the federal transportation program. Stephen E. Sandherr, CEO of AGC says, “Thousands of construction workers are counting on Congress to fix this problem before they and the entire economy are made to suffer.”


 


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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.

Bluebeam® Revu® simplifies digital facilities document management from design review to leveraging as-builts, maintenance manuals and O&Ms submittals.

 


 
09/19/2014

New regulations from the DOE would improve commercial air conditioner efficiency by as much as 30%. 

09/18/2014

A new study suggests that the installed cost of photovoltaic solar power continues to drop in the U.S.

09/17/2014

A new technology developed at Rice University effectively deices glass surfaces while remaining transparent for radio frequency transmission.

09/16/2014

The USGBC and American Chemistry Council have put aside their differences to work together on new improvements to the LEED certification system. 

09/15/2014

Researchers have developed a new process to help cloud computing systems use less energy while continuing to provide high levels of data services.

09/12/2014

Researchers have found the main factors that influence the amount and type of building damage caused by various types of salts. 

09/11/2014

A new study has demonstrated that proactive ergonomic training can decrease worker discomfort and increase productivity. 

09/10/2014

The University of Utah has upgraded its historic Dumke Health Professions Education building to save an impressive 40% on energy costs.

09/09/2014

Hoping to build on LEED's success, PEER evaulates the performance and modernization of electric grids. 

09/08/2014

The USGBC has developed a new tool to help streamline the LEED certification process. 

09/05/2014

Researchers have developed a fluorescent lamp that emits Wi-Fi signals to allow connectivity throughout buildings.

09/04/2014

Tests show effective measures for reducing earthquake damage to computer servers. 

09/03/2014

Health costs drop by half as a result of environmental regulations.

09/02/2014

A new study challenges the idea that sparse workplaces produce happier, more productive employees.

08/29/2014

New tool from FEMA helps facility managers prepare for and mitigate the effects of nonstructural earthquake damage. 

08/28/2014

Is your building's exterior prepared for consistent snowstorms?

08/27/2014

Researchers have developed wearable, customizable technology to handle access control at busy hotels. 

08/26/2014

A new study shows that hotels which are LEED certified bring in more revenue than their non-certified competitors. 

08/25/2014

Policies designed to reduce carbon emissions have the added benefit of increasing air quality, which could pay for the reduction policies themselves. 

08/22/2014

Researchers at Michigan State University have developed a luminescent solar concentrator that is as transparent as glass. 

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