SmithGroupJJR, an integrated design firm, will now offer architecture services at its Madison, Wisconsin office for the first time in the company’s history.
The Dodge Momentum Index increased 0.5 percent in February to 146.9 (2000=100) from the revised January reading of 146.2. The Momentum Index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.
The Q1 2018 USG Corporation and U.S. Chamber of Commerce Commercial Construction Index reveals nearly two-thirds of contractors are highly confident that demand for commercial construction will increase over the next year, however, continued concerns around labor shortages have put even greater pressure on the industry.
ConstructConnect, a provider of construction information and technology solutions in North America, announced the release of its Spring 2018 Forecast Quarterly Report. From 2019 through 2022, the total construction starts forecast remains unchanged with an almost 5.0 percent average annual rise.
Dodge Data and Analytics reported that construction starts increased 12 percent month over month in December, and starts for the year increased 3 percent to $745.9 billion. Nonbuilding starts were up 43 percent in December, in part because of the kickoff of the $2 billion Interstate 66 project in Virginia.
According to these forecast experts, 2018 could be full of surprises but all seem to forecast that the construction industry should have mostly good news for this year.
