Housing Starts Hit 13-Year High

Privately-owned housing starts exploded in December to a 13-year high. According to the Department of Housing and Urban Development and Census Bureau, housing starts increased 16.9% in December above November's revised estimate. The seasonally adjusted annual rate of 1,608,000 is nearly 41% better than December 2018. "The big jump in the last month...
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Nonresidential Construction Employment Ends 2019 on a High Note

The nonresidential construction sector ended 2019 with a bang, adding 20,000 net new jobs—an increase of more than 150,000 jobs (2%) compared to the prior year.In a month-over-month (MoM) analysis by Associated Builders and Contractors (ABC), the data revealed an employment increase of 16,700 jobs last month, most notably in nonresidential specialt...
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Dodge Momentum Index Continues Rise

The Dodge Momentum Index continued to rise as 2019 came to a close. The construction-spending indicator released by Dodge Data & Analytics improved 1.5% in December to a reading of 156.2. December was the fourth-straight month of increases. For the full year, the Index was 3.7% below the 2018 average, but the institutional and commercial compon...
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Outsource or Offshore Your Credit Team? NACM Wants to Hear from You

Do you outsource or offshore your credit team at your company? If so, NACM's editorial team would like to hear from you as part of a research initiative for an upcoming article in ​Business Credit​ magazine.Please take this quick survey to help us reach you:https://www.surveymonkey.com/r/5252HPRIf you would like to participate, you may al...
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Single-Family Housing Hit Hard in 2010s

As a decade ends, another begins, but that isn't to say there aren't lessons to learn. According to the National Association of Home Builders (NAHB), the 2010s stands out to the construction industry because of the drastic drop in single-family home production, down from 12.3 million units in the 2000s to 6.8 in the 2010s. The decline is even more ...
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Construction Spending Increases in November

Construction spending is on the rise as data for 2019 continues to flow in the new year. According to the Census Bureau, spending reached a seasonally adjusted annual rate of $1.324 trillion in November 2019, up 0.6% from the previous month. This is also more than 4% higher than November 2018, and it's the best November showing on record, dating ba...
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New Home Sales Increase After Downward Revision

New single-family home sales are on the rise after the previous month's rate was revised downward. The Census Bureau and Department of Housing and Urban Development announced earlier this week new home sales in November were at a seasonally adjusted rate of 719,000, up 1.3% from October. Year-to-year, sales were up 16.9% from November 2018's estima...
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Existing-Home Sales Fall Flat in November

Existing-home sales fell flat in November despite the anticipated decline. Economists predicted sales would slip 0.2% in November, according to Reuters, but they actually dropped eight times more than expected. Existing-home sales took a 1.7% step back, states the National Association of Realtors (NAR). However, sales are still up 2.7% from a year ...
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Inflation Remains Low, US Economy Still Strong

The Chicago Federal Reserve released its analysis of the U.S. economy Dec. 18, noting favorable outcomes but stating inflation rates remain "worrisomely low," according to an article in Reuters. The labor market and the consumers conversely are "remarkably well" in contrast to inflation.Monetary policy, similarly, is in a "good place," which likely...
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Construction Material Prices Largely a ‘Nonissue’ for Contractors

As 2019 comes to a close, contractors are enjoying the ongoing decline in construction input prices, which decreased half of a percent in November. According to Associated Builders and Contractors (ABC) and their chief economist, Anirban Basu, material prices are "a nonissue" for contractors, despite trade disputes and tariffs.ABC reported not only...
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Holiday Spending Still with Much to Prove

With the holiday season upon us, spending is ramping up; however, retail spending did not hit predicted marks. According to the Census Bureau, retail and food services sales increased 0.2% in November and are 3.3% ahead of November 2018. Economists expected retail sales to increase by 0.5% in November, according to Reuters. Despite this, NACM Econo...
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Fed Keeps Interest Rates Steady

Interest rates will continue to remain steady, according to the U.S. Federal Reserve. Borrowing costs will likely stay unchanged for an indefinite period of time. While 2020 brings a new presidential election, the Fed predicts the new year will see moderate economic growth and low unemployment.The lending rate sits between 1.5% and 1.75%, some of t...
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Construction Industry Maintains Job Count in November

The cold weather isn't putting the construction industry down as job opportunities remain available, increasing both month-over-month (MoM) and year-over-year (YOY). On Dec. 6, Associated Builders and Contractors (ABC) revealed an additional 1,000 net new construction jobs became available MoM in November, while the YOY total rose by 2%, or 146,000...
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Dodge Momentum Index Increases in November

Construction spending could be in the forecast as the calendar turns to 2020. According to Dodge Data & Analytics, the Dodge Momentum Index increased nearly 3% in November, almost setting a new cycle high. The index reached 155.3 following October's 150.9 reading. The index measures initial reporting of nonresidential construction, which has le...
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An Unexpected Economic Drop off in November

The service sector in the U.S. saw a slowdown in November, an unexpected turn—especially given the usual health of holiday shopping, according to a recent article in Reuters. Most of the slowdown came from concerns related to trade tensions and worker shortage.This off-kilter behavior appeared in The Institute for Supply Management's (ISM) index, w...
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Experts Anticipate $7.5 Billion Increase in Cyber Insurance Premiums by 2022

With each passing day, it seems as if there is a new type of insurance policy created to protect people and businesses alike. Many credit managers, for example, are already familiar with credit insurance, designed to ensure creditors are covered if a customer doesn't fulfill their debt. Published on Nov. 19, a Financial Times (FT) article explores ...
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Pending Home Sales Drop in October

Pending home sales fell during the month of October, according to the National Association of Realtors. The overall index for pending home sales dipped by nearly 2%. Contracts to purchase previously owned homes in the U.S. also fell in October.The pending index provides a forward look into the health of real estate and construction of new residenti...
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October Brings Spike in Construction Jobs

For those interested in the construction industry, now is the time to join as the sector experienced a significant increase of 10,000 jobs in October across the U.S. Thirty-nine states saw some form of growth last month, 28 of which increased more than 2.1%.According to the National Association of Home Builders (NAHB), nearly 150,000 residential an...
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Existing-Home Sales Increase in October

Existing-home sales are on the rise in much of the U.S., according to the latest data from the National Association of Realtors (NAR). Completed transactions of single-family homes, townhomes, condos and co-ops inched upward 1.9% in October, states NAR. Sales are also up 4.6% from October 2018. Economists predicted sales would rise 1.4% in October,...
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Construction Backlog Indicator Fell in September

The Associated Builders and Contractors' Construction Backlog Indicator (CBI) for September 2019 saw a setback. The indicator fell by one-tenth of a month or by 0.8% since August 2019. The CBI now sits at 8.9 months.ABC Chief Economist Anirban Basu said the trends in the most recent CBI will "remain in place." The spending in the public constructio...
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