Archive for AGC SmartBlogs
The construction sector was booming in the mid-to late-2000s, and then the Great Recession grabbed hold and the industry changed overnight. Layoffs were rampant; dozens of mega-construction projects stalled; half-built buildings dotted the country. But, after a few years, a slow, but increasingly steady — or at least somewhat optimistic — outlook started to take hold.
Housing starts were increasing rapidly, and passage of the transportation bill, or MAP-21, put roadwork back on the map. The continuing shale boom brought a need for new rail facilities, accommodations, drillers, and more.[…] Continue Reading »
Six years of recession in the U.S. has cut a $1.2 trillion-a-year construction industry into one that is worth about $800 billion a year. It also chopped more than 2 million jobs from the industry, according to data from the Associated General Contractors of America. However, a survey by AGC and co-sponsored by Computer Guidance leads AGC to look at 2013 as a potential turning point with tentative signs of recovery.[…] Continue Reading »
The election is over and we still have a divided Congress and impending “fiscal cliff.” So what can the construction industry expect during Congress’ lame-duck session, and next year? That was the topic of a conference call last week with members of the Associated General Contractors of America.
Post-election numbers show a slightly smaller Republican majority in the House and a slightly stronger Democratic majority in the Senate, said Jeff Shoaf, senior executive director of government and public affairs at AGC.[…] Continue Reading »
The architecture, engineering and construction industry is in better shape than it was a year ago, and the upward trend could continue, three economists said during a webcast by Reed Construction Data. However, the “fiscal cliff,” troubled state economies, tight lending standards and the Obama administration’s regulatory agenda are headwinds that could alter the trend, they said.[…] Continue Reading »
Regulatory uncertainty, sub-par gross domestic product growth, an inventory of distressed residential properties and a Congress that sees compromise “as a four-letter word” — as Bernard Markstein, chief economist at Reed Construction Data, put it — all contribute to a feeling of uncertainty about the country’s economic growth, particularly in the architecture, engineering and construction industries hard hit by the recent recession.[…] Continue Reading »