Welcome to our Construction Industry News page, where we bring you the latest updates on mergers and acquisitions, key new hires, and significant industry shifts. Stay informed with breaking news and in-depth reporting to keep up with the fast-paced changes shaping the construction business.
United States construction spending was up 0.6% in November 2019, according to a report released by the U.S. Census Bureau last week.
November marks the fifth consecutive month in which spending has increased, and the most recent numbers are welcome news after an increase of only 0.1% in October 2019.
New year, new trade deal! In a potentially positive turn of events, the construction industry—and the economy as a whole—could see progress concerning the trade war between the United States and China. After reaching a compromise in early December 2019 over some tariffs on Chinese and American goods, President Trump announced last week via a tweet that he plans to sign the first phase of a trade deal with China January 15.
Chicago, Illinois (Dec. 12, 2019)—The Council on Tall Buildings and Urban Habitat (CTBUH) has released its annual report, “CTBUH Year in Review: Tall Trends of 2019,” part of the “Tall Buildings in Numbers” data analysis series. The report shows that 126 buildings of 200 meters’ height or greater were completed in 2019, including 26 “supertall” buildings of at least 300 meters’ height—a new record.
Monroe, Washington (Dec. 11, 2019)—Brokk, a manufacturer of remote-controlled demolition machines, enhances customer service and parts availability with upgrades to the parts warehouse at its headquarters in Monroe, Washington. The new facility houses an array of standard and specialty parts for all Brokk, as well as older Brokk models.
Let’s end this year on a positive note, shall we? With news from Washington, no less! Last week, federal lawmakers reached an accord concerning the United States-Mexico-Canada Agreement (USMCA).
Washington, D.C. (Dec. 11, 2019)—Investment in equipment and software is projected to expand 1.1% in 2020 while United States economic growth slows to 1.7%, according to the 2020 Equipment Leasing & Finance U.S.
San Diego, California (Dec. 10, 2019)—Three members of Gafcon Inc.’s leadership team and one of its recent projects have recently been recognized with awards for excellence. California-based Gafcon, a program, project and construction management firm, manages and directs complex projects both nationally and internationally and is headquartered in San Diego, California.
Toronto, Canada (Dec. 9, 2019)—Ware Malcomb, an international design firm, has announced the opening a second office in Canada, located at 250 University Avenue, Suite 235 in downtown Toronto, Canada. Ware Malcomb’s Vaughan office will continue to operate at 180 Bass Pro Mills Drive, #103.
New Jersey (Dec. 6, 2019)—The Dodge Momentum Index moved 2.9% higher in November to 155.3 (2000=100) from the revised October reading of 150.9.
Just in time for the holidays, GlobalData has given us a new report to study. That’s what you were planning on spending your holidays doing, right?
What’s Santa bringing you this season? For Layton Construction and STO Building Group, it’s a big fat merger. The two companies announced last week that Layton and STO will merge by the end of the year.
Milwaukee, Wisconsin (Dec. 2, 2019)—The Association of Equipment Manufacturers (AEM) has announced the 2019 recipients of its annual Advocates Program awards, which recognize outstanding commitment by AEM members to industry advocacy efforts.
This year, 25 member companies received AEM Advocates Program Gold awards for achieving the highest level of participation in grassroots advocacy.
Washington, D.C. (Nov. 27, 2019)—The United States Department of Labor’s Occupational Safety and Health Administration (OSHA) and Wage and Hour Division (WHD) remind employers to protect worker safety and pay during the upcoming holiday season.
Construction leader AECOM announced in a recent “governance agreement” with investor Starboard Value LLP that Chief Executive Officer and Chairman Michael Burke will retire as soon as the company names a new CEO or until the firm’s 2020 annual meeting in March.
You get a contract! And you get a contract! It’s been a busy couple of weeks in terms of construction contracts. Here are two projects in particular that you should watch:
London, England (Nov. 27, 2019)—Total construction and real-estate industry private equity deals in Q3 2019 worth $2.23 billion were announced in the US, according to GlobalData’s deals database. The value marked an increase of 2876.1% over the previous quarter and a rise of 83.9% when compared with the last four-quarter average of $1.21 billion.
Washington. D.C. (Nov. 19, 2019)—The Urban Land Institute’s (ULI) Greenprint Center for Building Performance has released a new report, Embodied Carbon in Buildings Materials for Real Estate, explaining how reducing embodied carbon in the construction process can save developers money and help mitigate the impacts of climate change. Greenprint is a worldwide alliance of real estate owners, investors and strategic partners committed to improving the environmental performance of the global real estate industry. Through measurement, benchmarking, knowledge sharing and implementation of best practices, Greenprint and its members are striving to reduce greenhouse gas emissions by 50% by 2030.
London, England (Nov. 19, 2019)—Total announced global construction and real estate industry deals for Q3 2019 were worth $61.7 billion, according to GlobalData’s deals database. The value marked an increase of 92.4% over the previous quarter and a rise of 33.2% when compared with the last four-quarter average of $46.68 billion. In terms of number of deals, the sector saw a rise of 10.7% over the last four-quarter average with 654 deals against the average of 591 deals. In value terms, North America led the activity with deals worth $25.26 billion.
New York, New York (Nov. 18, 2019)—New construction starts declined 11% in October to a seasonally adjusted annual rate of $696.3 billion, according to Dodge Data & Analytics. This is the third consecutive monthly drop in construction starts activity. By major sector, nonresidential building starts fell 20% from September to October and nonbuilding starts dropped 14%, while residential starts moved 2% lower. The October statistics pushed the Dodge Index down to 147 (2000=100) compared to 166 in September.
