Construction Spending Rises To Four-year High

Construction cranes must come down

Louisiana isnt the only state experiencing trouble, as about 75 percent of the firms who participated in the survey say they are having similar troubles and only seeing the issue getting worse. Other states that provided large survey samples included Colorado; Florida; Iowa; Minnesota; Mississippi; North Carolina; North Dakota; Ohio; Oregon; South Carolina; Texas; Virginia and Wisconsin. Many construction firms are already having a hard time finding qualified workers and expect construction labor shortages will only get worse, said Stephen E. Sandherr, chief executive officer of the Associated General Contractors of America. We need to take short- and long-term steps to make sure there are enough workers to meet future demand and avoid the costly construction delays that would come with labor shortages. Brian Turmail, a spokesperson for AGC of America, said 16 firms in Louisiana participated in the survey, landing the state within the top 33 percent of respondents nationally.

“This was an unambiguously positive report, signaling a further acceleration in manufacturing momentum in August,” said Millan Mulraine, director of U.S. research and strategy at TD Securities in New York. New orders also marked their best level in more than two years, with that sub-index jumping to 63.2 from 58.3. The reading for new orders minus inventories, a way to extrapolate so-called final demand, marked its highest in more than three years, as well. That measure of demand has now risen for three straight months, potentially adding more evidence to support a Fed pullback in bond buying. Employment, however, slipped to 53.3 from 54.4. Jobs data are especially important to the Fed, which wants to see the unemployment rate closer to 6.5 percent.

bridge-work

The developer of the unfinished buildings has two days to remove construction cranes. Masako Watanabe/Pacific Daily News/mwatanabe@guampdn.com Written by Buildup ADVERTISEMENT The developer of an unfinished, high-rise condominium project in Tamuning has two days to complete the removal of construction cranes that had been perched at the top of the structures. Department of Public Works Director Carl Dominguez said DPW months ago gave the developer the Sept. 7 deadline because of public safety concerns. Some of the residents in the Tamuning neighborhood that includes single family homes have expressed concern that the construction cranes or parts of the heavy machinery might fall in the event of a strong earthquake or typhoon, Dominguez said.

Government projects fell 0.3% in July with state and local spending down 0.4%. That drop more than offset a 1.1% rise in the smaller federal category. The advance in housing activity pushed residential construction to its highest level since September 2008. The increase for nonresidential building was led by a 6.1% increase in construction of hotels and motels. Office building and the category that covers shopping centers also showed gains.

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