Your source for construction industry news in the Carolinas
Construction input prices decreased 0.5% in November and are down 1.1% year over year, according to an Associated Builders and Contractors analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data released today. Nonresidential construction input prices decreased 0.4% for the month and are down 1.0% since November 2018. Natural gas (-29.9%)…
CBL Properties (NYSE:CBL) today announced redevelopment plans at Coastal Grand in Myrtle Beach, South Carolina. As part of the project, DICK’S Sporting Goods will relocate to a new building near Dillard’s, which will include the addition of Golf Galaxy. Flip N Fly will then open a 53,000-square-foot family entertainment venue in the former DICK’S Sporting…
TurnPoint Services Group (“TurnPoint”) today announced it has acquired Corley Plumbing Air Electric (“Corley”) in Greenville, South Carolina. Founded in 1986, Corley is a leading provider of essential home services in the Upstate region of South Carolina, and focuses exclusively on maintenance, repair and replacement services for residential and commercial customers. The company’s well-trained technical…
Sentinel Risk Advisors this week announced that McDonald York Building Company, a Raleigh-based construction firm with deep roots and a storied history, is the recipient of the risk management firm’s Lightkeeper Award, an annual recognition of clients that have elevated safety and loss control programs to superior standards. Sentinel’s Chief Operating Officer, Nicole Winkle, said…
The construction industry is in the middle of a transition toward new business models that are technology- and data-driven, better collaboration between stakeholders, and higher productivity. The increasingly aging workforce and digitization are prompting greater investments in workforce management and digital solutions. By 2030, global spending in construction is expected to touch $17.5 trillion, with China, the US, and India leading the way and accounting for…
Economic growth in the United States will continue in 2020, say the nation’s purchasing and supply management executives in the December 2019 Semiannual Economic Forecast. Expectations are for a continuation of the growth that began in mid-2009, as indicated in the monthly ISM® Report On Business®. The manufacturing sector is optimistic about growth in 2020, with revenues expected to increase in…
HGTV today unveiled the 24th edition of HGTV® Dream Home, a sprawling Southern-style approximately 3,500-square-foot home on the highly sought-after destination Hilton Head Island, South Carolina. HGTV, a member of the Discovery, Inc. family of brands, will award the newly built, fully furnished residence to the grand prize winner, along with a brand new Honda Passport Elite…
Changes to a construction project’s scope of work was identified as the most frequent contributor to disagreements between owners and contractors according to a report by HKA, a leading construction claims and dispute resolution firm. The company recently released: 2019 CRUX Insight, A Global Market Sector Analysis into claims and dispute causation factors. HKA publishes…
Associated Builders and Contractors Chief Economist Anirban Basu forecasts continued momentum for the construction sector next year but advised an overall “wait-and-see” approach based on leading and lagging indicators and economic uncertainties, according to a 2020 economic outlook published in Construction Executive magazine. Although ABC’s Construction Backlog Indicator—a leading indicator that reflects projects under contract yet to be executed—climbed…
The Dodge Momentum Index moved 2.9% higher in November to 155.3 (2000=100) from the revised October reading of 150.9. The Momentum Index, issued by Dodge Data & Analytics, 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…
