China Cuts Interest Rate for the First Time in Nearly Two Years

China's central bank cut its interest rate on 700-billion-yuan ($110.19 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions by 10 basis points from 2.95% to 2.85%, according to news reports.While prices have remained stable for China, policymakers are likely to shift their focus toward boosting growth,...
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Nonresidential Construction Employment Expands As Construction Industry Unemployment Ticks Higher

The construction industry recovered 92.1% of the jobs lost during earlier pandemic stages and added 22,000 new jobs in December, according to U.S. Bureau of Labor Statistics data.Nonresidential construction employment added 27,000 jobs in December: 12,900 in nonresidential specialty trade 10,400 in heavy and civil engineering 3,700 in nonresidentia...
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Report Shows Steady Growth for Global Trade Finance from 2021-2026

After experiencing moderate growth from 2015-2020, the global trade finance market is projected to grow by 3.7% from 2021-2026, according to IMARC's latest report, Trade Finance Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2021-2026. This prediction may change as the pandemic continues to be tracked and evaluated as ...
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Bankruptcy Filings Show Declines Across All Chapters from October to November 2021

New bankruptcy filings across all chapters declined by 5.6% in November from the previous month, according to Epiq's November 2021 bankruptcy filing statistics from its AACER bankruptcy information services business.The total for new commercial filings across all chapters also decreased by 10.3% from October to November. For 2021 through November, ...
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Survey Finds Suppliers May See a Rise in Pricing While Manufacturers Expect a Rise in Sales

Material suppliers are expecting costs to rise over the next year, according to Construction Products Association (CPA) recent State of Trade survey for Q3. Data shows that cost pressures are expanding from raw materials to fuel, energy, wages and salaries.This expansion is likely due to the rise in global gas, electricity and crude oil prices—alon...
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US Inflation Hits 31-Year High in October

Container ships located at the ports of Los Angeles and Long Beach, CA, are averaging a 17-day wait time, according to a Bloomberg report. As of November 12, 83 ships remain either at anchor or in a holding zone, compared to the previous high of 81 from earlier that week."We are trying to add capacity by searching for vacant land to store container...
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House Passes $1.2 Trillion Infrastructure Bill

Congress passed the much-awaited infrastructure bill on Friday, which includes $550 billion in spending for new infrastructure and $110 billion for improvements to roads and bridges. Overall, the $1.2-trillion package is about $1.1 trillion less than President Joe Biden's March proposal, known as the American Jobs Plan.It also includes funds for tr...
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US-EU Reach Agreement to Ease Tariffs on Steel, Aluminum Products

The U.S. and EU have reached an agreement to lift U.S. tariffs on some steel and aluminum products coming from Europe, beginning Dec.1, the White House announced Sunday. This agreement sets a threshold for the amount of steel and aluminum coming from the EU before being subject to tariffs.In return, the EU states that it will remove its retaliatory...
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US-Vietnam Agreement to Keep Supply Chain Free of Illegal Timber

 U.S. Trade Representative Katherine Tai announced an agreement with the Socialist Republic of Vietnam that addresses U.S. concerns in the Vietnam Timber Section 301 investigation. This is the first 301 investigation to address environmental concerns. (Section 301 of the Trade Act of 1974 (19 U.S.C. §2411) grants the Office of the United State...
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Coface Survey Shows Decrease in Payment Delays and a Positive Economic Outlook for 2021

According to a recent Germany corporate payment survey by Coface, payment delays have steadily decreased from 2020 to 2021. Among the companies responding to the survey, only 59% are reporting payment delays this year – a 9% decrease from 2020.Companies are also reporting a drop in the duration of payment delays resulting in an 8-day decline to an ...
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Federal Mandate for COVID Vaccinations Targets Government Contractors Among Others

President Joe Biden and the U.S. Department of Labor's Occupational Safety and Health Administration (OSHA) are developing an emergency temporary standard (ETS) that would require companies that employ more than 100 workers to ensure their employees are either fully vaccinated or test negative each week if unvaccinated in order to come into work sp...
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Survey Highlights Mixed Opinions on Globalization

Public perception of globalization has declined over the past two years, according to a market survey from the World Economic Forum and Ipsos. Although 75% of the survey takers agreed that expanding trade is a good thing, nearly 40% of them believe more trade barriers should limit imports of foreign goods. These results could indicate a decline in ...
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ABC Reports Construction Input Prices Up 23.1% Year-Over-Year

A recent analysis of the U.S. Bureau of Labor Statistics' Producer Price Index from Associated Builders and Contractors (ABC) revealed that construction input prices rose by 0.6% in July. The analysis also revealed that these input prices increased to levels 23.1% higher than a year ago.Commodity prices have continued to soar under unrelenting dema...
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Commercial Bankruptcy Filings Down from June to July

Commercial bankruptcy filings declined 15% from June to July this year, according to reports from Epiq's AACER bankruptcy information services business. Overall, U.S. bankruptcy filings were down 6%."New commercial filings continue to lag as the financial markets continue to offer robust alternatives to restructuring under U.S. bankruptcy code," sa...
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New Executive Order Aims for Competitive Marketplace

 President Joe Biden's July 9 executive order strives for a fairer and more open marketplace. The order encourages the leading antitrust agencies to focus enforcement efforts on problems in key markets and coordinates other agencies' ongoing response to corporate consolidation. Among other things, according to a White House fact sheet, it does...
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Construction Employment Remains Below Pre-Covid Levels in 39 States

​Continuous demand coupled with labor shortages in the construction industry has halted production across the majority of the U.S. According to the Association of General Contractors (AGC), today's employment levels in the construction industry are still trailing employment levels prior to the global shutdown in 39 states."The construction industry...
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Middle East Shifting Focus Toward Renewable Energy to Boost Economy

 The Middle East has relied on the production and distribution of oil for decades to sustain its economy. Now, with GDP projecting a decrease in oil and non-oil growth in the coming years, that production is expected to decline as the Gulf region prepares to invest more in renewable energy sources."We reject the false choice between preserving...
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