Tag Archive for 'bridges'

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ABC Reports: GDP Shows Increasing Positivity for Nonresidential Construction

CEU2-1“The improving confidence of consumers, business owners, and real estate developers, among others, suggests that additional momentum is likely, ” —ABC Chief Economist Anirban Basu.

GDP_Q3_2014-1Nonresidential fixed investment grew 5.5 percent in the third quarter after expanding 9.7 percent in the second quarter, according to the Bureau of Economic Analysis’ Oct. 30 gross domestic product (GDP) report. It has now expanded by greater than 5 percent in four of the past five quarters. In addition, investment in equipment increased 7.2 percent, while investment in nonresidential structures increased 3.8 percent.

Real gross domestic product (GDP) expanded 3.5 percent (seasonally adjusted annual rate) during the third quarter, following a 4.6 increase in the second quarter.

“It has been rare for the U.S. economy to record two consecutive good quarters since the recovery began in mid-2009,” said Associated Builders and Contractors Chief Economist Anirban Basu. “The dominant pattern has been one of a good quarter followed by a bad quarter. This lack of consistent momentum has also been seen with construction spending growth and in other leading indicators, such as the Architecture Billings Index and ABC’s own Construction Backlog Indicator.”

“However, the improving confidence of consumers, business owners, and real estate developers, among others, suggests that additional momentum is likely,” Basu said. As an example, the Consumer Confidence Index attained a seven-year high in October. The implication is that nonresidential construction spending should continue to recover, with growth continuing to be concentrated in privately financed segments.”

The following segments expanded during the third quarter and/or contributed to GDP.

  • Personal consumption expenditures added 1.2 percent to GDP after contributing 1.8 percent in the second quarter.
  • Spending on goods grew 11 percent after expanding 14.3 percent in the prior quarter.
  • Real final sales of domestically produced output, minus changes in private inventories, increased 4.2 percent after a 3.2 percent increase in the second quarter.
  • Federal government spending expanded by 10 percent following a 0.9 percent decrease in the prior quarter.
  • Nondefense spending expanded 0.5 percent after decreasing by 3.8 percent in the second quarter.
  • National defense spending expanded 16 percent after inching up 0.9 percent in the previous quarter.
  • State and local government spending expanded 1.3 percent during the third quarter after growing 3.4 percent in the second quarter.

To view the previous GDP report, click here.

ABC Reports: Nonresidential Construction Spending Slips for Second Consecutive Month

CEU2“September’s drop in nonresidential construction spending is disappointing given the growing momentum in the broader economy and the generally positive signals being sent by industry-specific leading economic indicators.”—ABC Chief Economist Anirban Basu.

Construction Spending Nov 2014Nonresidential construction spending slipped 1 percent in September but has still managed to expand 4.2 percent on a year-over-year basis, according to the Nov. 1 release from the U.S. Census Bureau. Spending for the month totaled $596.1 billion on a seasonally adjusted, annualized basis while the government slightly revised the August spending figure from $603.7 billion to $601.9 billion.

“September’s drop in nonresidential construction spending is disappointing given the growing momentum in the broader economy and the generally positive signals being sent by industry-specific leading economic indicators,” said Associated Builders and Contractors (ABC) Chief Economist Anirban Basu. “Based on a combination of these leading indicators—including ABC’s own Construction Backlog Indicator and the Architecture Billings Index—and the anticipated performance of the U.S. economy, nonresidential construction spending should re-establish an upward trajectory on a seasonally adjusted basis going forward.

“With national job creation accelerating recently and interest rates remaining ultra low, one would expect private construction to perform well during the quarters ahead, while growth in publicly funded spending will be much softer,” said Basu. “The industry should be further buoyed by the economy’s two consecutive quarters of respectable economic growth, something the U.S. economy has rarely achieved during the current recovery.”

Only five of 16 nonresidential construction subsectors posted increases in spending in September on a monthly basis.

  • Office-related construction spending grew 2.4 percent in September and is up 15.7 percent from the same time one year ago.
  • Lodging construction spending is up 4.7 percent on a monthly basis and is up 14.7 percent on a year-over-year basis.
  • Conservation and development-related construction spending grew 4.1 percent for the month and is up 31.7 percent on a yearly basis.
  • Commercial construction spending gained 1.3 percent for the month and has grown 12.3 percent on a year-over-year basis.
  • Spending in the water supply category expanded 1.1 percent on a monthly basis, but is down 1.6 percent for the year.

Spending in 11 nonresidential construction subsectors declined in September.

  • Amusement and recreation-related construction spending lost 0.8 percent in September, but is up 0.6 percent from the same time last year.
  • Manufacturing-related spending fell 1.3 percent on a monthly basis, but is up 16.4 percent on a year-over-year basis.
  • Communication construction spending declined 0.7 percent for the month and is down 12.8 percent from the same time last year.
  • Religious spending fell 3.1 percent for the month, but is up 2.6 percent from the same time last year.
  • Sewage and waste disposal-related construction spending declined 2.4 percent for the month, but has expanded 1.1 percent on a 12-month basis.
  • Health care-related construction spending fell 0.9 percent for the month and is down 7.5 percent on a yearly basis.
  • Education-related construction spending fell 0.1 percent for the month, but is up 7.1 percent on a year-over-year basis.
  • Construction spending in the transportation category fell 1.1 percent on a monthly basis, but has expanded by 1.2 percent on an annual basis.
  • Highway and street-related construction spending fell 3.6 percent in September and is down 1.7 percent compared to the same time last year.
  • Public safety-related construction spending lost 2.3 percent on a monthly basis and is down 11.1 percent on a year-over-year basis.
  • Power construction spending fell 3.1 percent for the month, but is 2 percent higher than at the same time one year ago.

To view the previous spending report, click here.

Dire States – A Transportation Vote in Wisconsin

The Dire States team interviews Craig Thompson, the executive director of the Transportation Development Association of Wisconsin. Thompson details a constitutional amendment in Wisconsin that, if approved by voters, will dedicate funds generated by transportation for road and bridge maintenance and construction in the state.

For more on the ballot initiative, visit: ‪http://bit.ly/1y85g4y

For more on Dire States, visit: ‪http://bit.ly/19eJ2AM

 

Dire States – Texas and Proposition 1

CASE, ASCO Equipment and the Dire States team joined forces with Texas Good Roads to tour the state and raise awareness to Proposition 1 – a ballot initiative in Texas that will direct approximately $1.7 Billion annually into road and bridge highway improvements.

America’s Top 10 Transportation Projects Competing for Two National Awards: 7th Annual Contest Sponsored by AASHTO, AAA and US Chamber of Commerce

CAThe American Association of State Highway and Transportation Officials, AAA, and the U.S. Chamber of Commerce recently announced the 2014 America’s Transportation Awards competition top 10 projects.

“While all 73 projects nominated deserve recognition for their contributions to improving transportation in America, these 10 remaining projects are the best of the best,” said Bud Wright, AASHTO executive director. “This competition recognizes excellence in project delivery. It’s about saving time and taxpayers’ money and improving the ability of people, manufacturers, farmers and service providers to move themselves and their goods, reliably, every day.”

This year, a record 36 states and the District of Columbia entered 73 projects that were judged in three categories: “Under Budget,” “Best Use of Innovation,” and a new category this year “Quality of Life/Community Development.”

The 10 finalists received the highest number of overall points during four regional competitions. The nation will decide through online voting which of the projects will receive the People’s Choice Award. A panel of experts will select the Grand Prize winner.

The Grand Prize and People’s Choice award winners will each earn a $10,000 donation from AASHTO on behalf of the winning state DOT to a charity or scholarship fund of its choosing. Both awards will be presented Nov. 23 at the AASHTO Annual Meeting in Charlotte.

Online voting begins today, Sept. 8, and will continue through Friday, Oct. 24, at http://AmericasTransportationAwards.org. Individuals are welcome to vote up to 10 times per day for their favorite projects.

The top 10 finalists in alphabetical order are:

  • California—San Francisco–Oakland Bay Bridge: California Department of Transportation’s $6.3 billion San Francisco–Oakland Bay Bridge project completely replaced a nearly 80-year-old structure with a new, modern bridge featuring advanced earthquake response technology. The bridge is also built to accommodate future expansions in light rail, bus, and other modes of transportation.
  • Colorado—September 2013 Flood Response: Colorado Department of Transportation’s $50 million quick and efficient response to damage caused by the major September 2013 floods greatly improved the lives of state residents. CDOT coordinated with the National Guard, local leaders and residents, and private contractors to reopen the last of the closed roadways in December 2013, just 10 weeks after the catastrophic event.
  • Florida—Mathews Bridge Impact & Emergency Repair Project: Florida DOT’s $3.8 million Mathews Bridge Impact and Emergency Repair Project required a fast and efficient fix for a major Jacksonville crossing that was struck by a naval ship. The bridge reopened for traffic 12 days ahead of schedule and only 33 days after the collision.
  • Illinois/Missouri—Mississippi River Bridge: Illinois and Missouri DOTs joined forces to complete the $229.5 million Mississippi River Bridge Project, a project to reduce congestion and improve safety for the St. Louis crossing. The project reduced delays and congestion for the nearly 120,000 daily commuters between St. Louis City, Missouri, and St. Clair County, Illinois. The project also saved $37 million in taxpayer funds.
  • Indiana—I-65/I-70 Split: Indiana Department of Transportation’s $12.4 million I-65/I-70 South Split Project increased safety by constructing the lower one-half mile of pavement beneath seven bridges. By reducing construction time from the typical 90 days down to 44 days, the project costs decreased from $20 million to $12.4 million, all while minimizing impacts to freight carriers and motorists.
  • New York—I-84 Bridges Replacement over Dingle Ridge Road: The $10.2 million project by NYSDOT replaced two deficient bridges on I-84, and utilized a new construction technique that reduced the two-year construction project to only two weekends and minimized delays on this major route between New York and Connecticut.
  • Ohio—S. Route 33 Nelsonville Bypass: Ohio Department of Transportation’s $200 million Nelsonville Bypass project relieved a major congestion problem for US 33 by constructing a four-lane bypass highway. Combined with other local road improvements, the project reduced travel time through the area by 30 minutes and offered a faster route through southeast Ohio.
  • Rhode Island—Pawtucket Bridge Replacement: RIDOT Pawtucket Bridge Replacement project restored full use of an essential interstate highway by replacing a deficient bridge. The bridge replacement on Interstate 95 made the roadway safer and was completed $46 million under its $123 million budget.
  • Texas—SH99/Grand Parkway Segment E: Texas Department of Transportation’s $320 million SH99/Grand Parkway, Segment E project represents the newest section of a planned 185-mile loop around the Houston metro region. Segment E improves system linkage within the existing transportation network and it will mitigate congestion on numerous roadway segments on the state’s “100 most congested” list.
  • WYWyoming—Togwoteemnbvgfcvgbhgfdghjhgfdfghjuytr4er5t6y77654356654356754345698 Trail to Yellowstone: Wyoming Department of Transportation’s $146.2 million Togwotee Trail to Yellowstone project increased safety and mobility by upgrading a 50-year-old road on a major route leading to Yellowstone National Park and Grand Teton National Park. New shoulders, passing lanes and upgraded bridges and parking facilities allow a safer trip through some of America’s most beautiful scenery.

Cast your vote today!