'06 Construction 'Strong'

04/01/2006


According to the Associated General Contractors of America, construction spending is hitting on all cylinders with "strong, balanced growth."

Reacting to a Census Bureau report that construction spending in February was at a record seasonally adjusted annual rate of $1.19 trillion—up 0.8% from January and 7.4% from February 2005—Ken Simonson, AGC chief economist, noted that not only was the overall total up significantly from a year ago, but all major segments showed similar growth. "For the first time since the 2001 recession, private nonresidential construction led the parade with a 9.6% increase from a year ago. Private residential construction was 7.1% higher, and public construction, 6% higher," he said.

On the flip side, Simonson said the biggest worries right now are materials costs and availability. In particular, he fears cement shortages this spring.

For AGC's Construction Inflation Alert and more detailed information on the Mexican cement agreement, visit www.agc.org/economics .





No comments
Consulting-Specifying Engineer's Product of the Year (POY) contest is the premier award for new products in the HVAC, fire, electrical, and...
Consulting-Specifying Engineer magazine is dedicated to encouraging and recognizing the most talented young individuals...
The MEP Giants program lists the top mechanical, electrical, plumbing, and fire protection engineering firms in the United States.
Combined heat and power; Assessing replacement of electrical systems; Energy codes and lighting; Salary Survey; Fan efficiency
Commissioning lighting control systems; 2016 Commissioning Giants; Design high-efficiency hot water systems for hospitals; Evaluating condensation and condensate
Solving HVAC challenges; Thermal comfort criteria; Liquid-immersion cooling; Specifying VRF systems; 2016 Product of the Year winners
Driving motor efficiency; Preventing Arc Flash in mission critical facilities; Integrating alternative power and existing electrical systems
Putting COPS into context; Designing medium-voltage electrical systems; Planning and designing resilient, efficient data centers; The nine steps of designing generator fuel systems
Designing generator systems; Using online commissioning tools; Selective coordination best practices
As brand protection manager for Eaton’s Electrical Sector, Tom Grace oversees counterfeit awareness...
Amara Rozgus is chief editor and content manager of Consulting-Specifier Engineer magazine.
IEEE power industry experts bring their combined experience in the electrical power industry...
Michael Heinsdorf, P.E., LEED AP, CDT is an Engineering Specification Writer at ARCOM MasterSpec.
click me