Midyear update on the economy and construction

July 25, 2017 kyle.hamer@oncenter.com

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​By Greg Michael, communications specialist, On Center Software

Reports continue to show the U.S. economy doing well. And it’s not just a blip. In fact, the NASDAQ Composite Index has had a 16 percent compound rate of growth per year since February 2009. The Dow Jones Industrial and Standard & Poor’s 500 have had about an 11-12 percent compound rate of growth per year. Weekly initial jobless claims have remained under 300,000 for two years. ​Washington D.C. is working on infrastructure spending, deregulation, and tax cuts. Congress may even cancel the August break.

Watch a short video on the economic outlook for construction. Carolina Borges Cavalcante, business intelligence director at Oldcastle Building Solutions has an MBA from Harvard Business School. Carolina interviews Alex Carrick, chief economist for ConstructConnect about economic trends, specifically, takeaways for the construction industry.
Alex has been analyzing and reporting on the construction industry with economic and forecast data for over 30 years. In Parts 1 and 2, they talk about the US economy, major construction sectors, and also touch on what is happening in Canada.

View Part 1. Part 2.

Keep up with the construction industry. Visit and bookmark On Center Software and ConstructConnect for timely blogs on construction issues.

With construction projects growing, is your company winning its share of bids? Increase bid production and accuracy with the Quick Bid estimating solution. Read about the advantages of using Quick Bid.

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