Archive for construction SmartBlogs

General consensus in the building industry predicts high-single-digit to low-double-digit growth for nonresidential construction over the next few years, but Kristoffer Inton, a basic materials analyst with Morningstar and Daniel Rohr, a director at the same company, disagree. The authors of “U.S. Nonresidential Construction Outlook: Spending Will Disappoint as Key Sectors Do More With Less” expect only a 2% increase in the annual real growth rate for the nonresidential sector over the next decade, below their estimate of a 2.25% real increase annually in gross domestic product.[…] Continue Reading »

The economy has been slowing down, and isn’t growing as quickly as expected, said Alex Carrick, chief economist at CMD, formerly Reed Construction Data, during Thursday’s construction outlook webinar hosted by CMD. That statement was underscored when the stock market closed down, cutting the year’s gains to a measly 0.10%.

And the wobbly economy was a concern to the other top economists in the industry, Ken Simonson of the Associated General Contractors of America and Kermit Baker of the American Institute of Architects.[…] Continue Reading »

The turning point in the building industry dawned in May 2014, when the “total employment level reached its prerecession level” and companies stopped looking in the rear-view mirror trying to outrun the Great Recession and started to think again of the future. So said Alex Carrick, North American chief economist at CMD during last week’s webinar on the state of the industry.[…] Continue Reading »

Mortenson Construction has used building information modeling, or BIM, in conjunction with virtual design and construction since 1998 when it started work on the Walt Disney Concert Hall project, a multi-award winning structure with a curved steel frame in Los Angeles. The project team found that BIM/VDC was essential in the project, in large part because it helped them visualize complex sequences of work that before had only been listed in an Excel worksheet or on a Gantt chart.[…] Continue Reading »

The Great Recession became official in December 2007, and by its end, more than 8.8 million jobs had been lost — 2 million in the construction sector alone.

But times change, and after the massive battering, the industry is starting to bounce back. Construction spending is up, projects are more plentiful and optimism is starting to sneak its way in.[…] Continue Reading »