Construction Executive Magazine and the ABC (Associated Builders and Contractors) recently announced that ‘Economists Optimistic About 2014 Commercial and Industrial Sectors’.
Highlights of this encouraging report on construction spending, the ABC’s Chief Economist, Anirban Basu, noted that “a combination of low interest rates; wealth effects stemming from a booming stock market and rising home prices; surging energy production; and expanding industrial output has helped position the U.S. economy for more rapid growth during the next several quarters.”
The ABC is predicting that non-residential spending will growth 7% in 2014. Moreover, the AIA (American Institute of Architects) is noting that the recent uptick in the ABI (Architecture Billings Index) has “lifted business conditions for firms in the Northeast”.
To view the joint economic forecast and joint presentation by Associated Builders and Contractors (ABC) Chief Economist Anirban Basu, American Institute of Architects (AIA) Chief Economist Kermit Baker and National Association of Home Builders (NAHB) Chief Economist David Crowe, click here.
According the the ABC and the Bureau of Labor Statistics (BLS), New York State construction employment has increased 7.7% from June 2013 to June 2014.
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To read the press release on the Associated Builders and Contractor’s web site, click here.
By Luke Rotunno. You can Find Luke Rotunno on Google +