Counting Cranes Equals Construction Development
Digested from “Crane Counts Show Multifamily Dominates”
GlobeSt.com (1/20/15) Bubny, Paul
Measuring construction activity to determine economic growth is not a new concept. But counting the actual number of cranes in use is certainly more novel.
Rider Levett Bucknall’s recently launched Crane Index notes crane activity in major U.S. metropolitan areas such as Boston, San Francisco and Los Angeles to assess actual construction activity occurring in these areas. In its first report, it notes that not only is crane activity indicating future growth, but also that residential construction, especially rental properties, is the primary source. And that growth should only increase in 2015, the company predicts.
The index will incorporate additional metro areas, such as Washington, D.C., in future compilations for further insights. The company has had success with similar indexes in its native Australia, New Zealand, the Middle East and southern Africa.