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GroundBreak Carolinas

Your source for construction industry news in the Carolinas

Construction Economy

U.S. Put-in-Place Construction Forecasts – Winter 2024

by ConstructConnect on

ConstructConnect Projects US Put-in-Place Construction Spending of $2.15 Trillion in 2024 ConstructConnect Chief Economist Michael Guckes released the US Put-in-Place Construction Forecast for Winter 2024 today. According to the report, total put-in-place construction spending for 2024 is expected to reach $2.15 trillion, marking a 6.4% increase from 2023. Although slightly lower than the last quarterly projection of $2.16 trillion, this updated…

Football Season, Election Season, and the Economic Outlook

by Bruce Yandle, Alumni Distinguished Professor of Economics Emeritus, Clemson University on

With September’s arrival, those who love college football are again enjoying tailgating, touchdowns, the sound of marching bands, and crowds cheering and singing their alma mater. Hope for a conference championship reigns supreme. Nothing beats winning.[1] And then those who get their thrills from politics, cheering crowds, music, and political cheerleaders can enjoy an endless…

Marcum 2024 Q1 Report: Construction Sector Defies Rising Costs and Interest Rates, Continues Upward Trend

by Marcum on

The Marcum Commercial Construction Index for the first quarter of 2024 reports that the construction industry continued growing despite various challenges. The index is produced by Marcum’s National Construction Services group. The construction industry continues to benefit from massive investment in manufacturing structures. “Construction spending on manufacturing structures is up 184% over the past four years,” said Anirban Basu,…

The Fed Hits the Brakes and Construction Takes it on the Chin

by Bruce Yandle, Alumni Distinguished Professor of Economics Emeritus, Clemson University on

News that October existing home sales fell once more, giving a period of decline dating back to January 2022, is a reminder that when the Fed hits the brakes, it is housing and the construction economy that feels the sharpest pain.  As National Association of Realtors chief economist Lawrence Yun put it: “More potential homebuyers…

Construction Spending Slips in August with Steep Slide in Homebuilding, Mixed Results for Public and Private Nonresidential Categories

by Associated General Contractors on

Total construction spending declined by 0.7 percent in August as spending on new houses turned sharply lower, while public and private nonresidential construction posted mixed results, according to an analysis the Associated General Contractors of America released today of federal spending data. Association officials said that rising interest rates were hurting demand for housing and many…

2022 Economic Outlooks and Forecasts

by GroundBreak Carolinas Editor on

GroundBreak Carolinas compiles economic outlooks and forecasts from leading economists, publications and trade organizations. These resources provide powerful insight and perspectives for leaders in the North Carolina and South Carolina construction industry as they navigate the challenges of operating in a dynamic business. An Economic Rebound: What’s Next: Dr. Bruce Yandle Commercial Real Estate Impact…

2021 GroundBreak Carolinas Design and Construction Outlook

by GroundBreak Carolinas Staff on

GroundBreak Carolinas recently surveyed leaders of design and construction firms to assess their perspectives on the construction economy in North Carolina and South Carolina. The findings are included in the 2021 GroundBreak Carolinas Design and Construction Outlook. A convergence of factors impacted the construction economy negatively in an unprecedented manner in 2020. COVID-19, social unrest,…

Construction Backlog and Contractor Optimism Rise to Start 2021, According to ABC Member Survey

by GroundBreak Carolinas Staff on

Associated Builders and Contractors reported today that its Construction Backlog Indicator rose to 7.5 months in January 2021, an increase of 0.2 months from its December 2020 reading, according to an ABC member survey conducted from Jan. 20 to Feb. 2. Despite the monthly uptick, backlog is 0.9 months lower than in January 2020. ABC’s…

Nonresidential Building Spending to Decline Through 2021

by American Institute of Architects on

Slowing demand at architecture firms last year is expected to contribute to a projected 5.7 percent decline in construction spending for 2021, according to a new consensus forecast from The American Institute of Architects (AIA). The AIA Consensus Construction Forecast Panel—comprised of leading economic forecasters—expects steep declines this year in construction spending on office buildings,…

Taking a Look at the Prospects for the 2021 Economy

by Bruce Yandle, Dean Emeritus, College of Business & Behavioral Science, Clemson University on

The arrival of December often signals a time to take a hard look at the closing year’s activity, consider key events and issues, and offer thoughts on the prospects for the year ahead.  But this year writing this sentence is a lot easier than following through. Indeed, the year now ending, beset as it was…