Economic OutlookMore Like This

According to a report recently released by Associated Builders and Contractors (ABC), the private construction industry’s value added as a percentage of the nation’s real gross domestic product (GDP) rose to 4 percent in 2016, the highest level since 2009. The report also shows annual growth in real construction spending, which rose 3.5 percent in 2016. Thirty-seven states benefited from the rise in construction activity in their state, while 13 states experienced a reduction in activity.

Continue »

Economic OutlookMore Like This

The national construction industry added 8,000 net new jobs on a seasonally adjusted basis in September, according to an analysis by Associated Builders and Contractors (ABC) of a recent release from the U.S. Bureau of Labor Statistics. The nonresidential sector added 11,700 jobs for the month, which means that residential construction lost several thousand jobs. Nonresidential specialty trade contractors paced the segment, adding 8,500 net new jobs on a monthly basis.

Continue »

Managing Your BusinessMore Like This

According to the National Bureau of Economic Research, the U.S. economy has gone through eight cycles of recession since 1960. This means the United States has found itself in a correction/recession every eight years in the past 56 years. The economy is now in its seventh year of official growth since 2009. These statistics suggest that in the next 18 to 24 months, the economy will face headwinds, or market correction.

Continue »

Managing Your BusinessMore Like This

In 2016, it seemed as though the United States was always marking time. Everyone was waiting to see which way the presidential election would go and the economy chugged along at 1.6 percent, according to a report by the U.S. Commerce Department. This was a slip from 2.6 percent in 2015—the worst performance since 2011. By contrast, 2017 has been a banner year for the stock market. Optimism over tax incentives and reduced regulation has fueled speculation and enticed money into the market.

Continue »