Construction Employment Remains Healthy

Construction unemployment isn't exactly where the industry wants it to be, but it has been worse. On Aug. 28, Associated Builders and Contractors (ABC) reported unemployment rose in 38 states in July 2019 compared to July 2018, based on estimates that were not seasonally adjusted. However, despite the 0.4% increase in unemployment over the past yea...
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Construction Confidence Dips in June, Optimism Moving Forward

Construction contractors lost confidence during the month of June, according to the June 2019 Construction Confidence Index released by Associated Builders and Contractors (ABC). This lack of confidence stems primarily from nonresidential construction.Despite the dip in sales, profits and staffing levels in June, the levels in the survey still rema...
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August CMI Turnaround Shows Positivity

NACM's Credit Managers' index is back on track after a hiccup in July. The combined CMI returned to levels seen earlier this year with a 1.8-point climb to 55.2 in August. Much of the improvement was seen in the favorable factors, which increased more than three points to 61.8."It looks more and more like July was an outlier in terms of the CMI dat...
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Ports Close Ahead of Tropical Storm Dorian

Hurricane season continues, with ports and businesses taking note of the weather patterns affecting projects and shipment deliveries. Tropical Storm Dorian remains a threat for Puerto Rico and the U.S. Virgin Islands, with all maritime ports in the area set for Port Condition Zulu as of Aug. 28, according to a recent article in Supply Chain Dive. G...
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Justice Department Indicts 80 in BEC Scam Case

As frequently as fraud is reported, many incidents end with companies suffering heavy financial losses. Sometimes, a lack of security or employee training is to blame, but there are also times when it's truly hard to detect a fraudulent transaction. Recently, the United States experienced a win on the fraud front after 80 defendants were indicted f...
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New Home Sales See Sharp Decline

New U.S. single-family home sales are on the decline as is the median home price. The latest release from the Census Bureau and the Department of Housing and Urban Development shows sales of new single-family homes slipped nearly 13% in July from June's revised rate. However, sales are up more than 4% from July 2018. The median sales price dipped j...
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Trump Continues to Pressure the Fed Amid US, China Trade Wars

The pressure continues for the Federal Reserve to lower interest rates, according to Reuters. President Trump on Aug. 21 said on Twitter he remains frustrated with Chair of the Federal Reserve Jerome Powell, stating the U.S. should not "count on him!"Trump also said the policies were infringing on U.S. growth and the trade deals with China.These co...
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The Fight Against Fraud Continues in US, UK

Just as businesses beef up security, fraud evolves and strikes companies when they least expect it, sending security teams back to the drawing board. The latest attacks are affecting businesses in the U.S. and U.K.On Aug. 11, Financial Times reported a rise in cyber insurance policy claims in both countries. In the U.S., companies are learning abou...
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Housing Starts Fall During July

U.S. housing starts fell during the month of July, making this the third consecutive month of falling starts, according to a recent article by Reuters. The biggest decline was seen in multi-family units. Despite these shortcomings, permits reached a seven-month high, offering some hope in the housing market.In total, housing starts dropped 4%, adju...
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GCC Businesses Searching for Alternative Financing

Access to financing is hurting businesses within the Gulf Cooperation Council (GCC). According to credit insurer Coface, financial conditions across the GCC are tighter now than before 2015, and bank credit conditions are forcing companies to look elsewhere for financing. Bank credit conditions in the Middle East and North Africa tightened during t...
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July Construction Input Prices Improve Yet Remain Worrisome

Construction input prices experienced a modest comeback in July, but results have left some builders unsettled with the year-over-year (YOY) findings. Despite the 0.8% expansion month-over-month (MoM), input prices fell more than half a percent YOY in part by notable declines in natural gas, unprocessed energy materials, crude petroleum and softwoo...
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Dodge Momentum Index Declines in July

The Dodge Momentum Index continues to decline after peaking in July 2018. The Index, released earlier this week by Dodge Data & Analytics, slipped 4.6% in July from the revised June reading. The index measures the first report of nonresidential building projects in the planning phase, resulting in an indication of nonresidential spending for a ...
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July Shows Modest Gain in Construction Jobs

Job growth in the construction industry continues to thrive after another month of increases in July, Associated Builders and Contractors (ABC) reported on Aug. 2. With a year-over-year (YOY) increase of nearly 3%, 4,000 net new jobs were added to the industry last month, bringing the YOY change to 202,000. However, there was a decline in jobs in p...
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US to Impose 10% Tariff on List Four Chinese Goods

The U.S. announced Aug. 1 it will impose a 10% tariff on $300 billion of Chinese goods beginning Sept. 1. This leaves businesses with just under a month to prepare, although negotiations are set to continue. The tariffs will impact list four goods.President Trump said he will meet with negotiators again in early September, according to Supply Chain...
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Construction Spending Declines in June

Construction spending is on the decline in the U.S. Construction spending dropped 1.3% in June to a seasonally adjusted annual rate of $1.287 trillion, according to a release from the Census Bureau earlier this week. June's data is also 2.1% below the June 2018 estimate.A decrease in public works projects and wet weather are the likely culprits beh...
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Cyberattacks Have Lasting Impacts on Small Businesses, Local Governments

Just as a storm can have a lasting impact on a community, cybersecurity experts say cyberattacks on small businesses and local governments can often leave a lasting path of destruction, making it difficult even after the affected have recuperated.For example, Symantec's Modern OS Security team released findings in early July that exposed a long-ter...
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West Coast Imports Decline in June, Tariffs a Suspect to Blame

West Coast imports declined in the month of June, which may be tied to recent trade wars and tariffs. Notably, the Port of Long Beach saw a 13% decline year-over-year (YOY) in June, along with the Port of Oakland and the Northwest Seaport Alliance which saw a 6% drop YOY in June, according to Supply Chain Dive. These numbers have been offset by a 3...
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Construction Contractors’ Confidence Holds Steady in May

Fresh into the dog days of summer, the U.S. construction industry is assessing contractors' confidence levels for nonresidential construction. According to Associated Builders and Contractors' (ABC) latest Construction Confidence Index (CCI) results in May, contractors are optimistic about sales expectations in the near future, yet show some uncert...
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Existing-Home Sales Fall Short in June

Existing-home sales are on the decline following an uptick in the previous month, and sales were slower than expected. The National Association of Realtors reports sales declined 1.7% in June from May, and are down 2.2% from a year ago."Home sales are running at a pace similar to 2015 levels—even with exceptionally low mortgage rates, a record numb...
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Chinese Tariffs Discourage US Fashion Companies

A recent report by the U.S. Fashion Industry Association revealed the U.S.-China trade war has pushed U.S. companies to reduce how much they source from China. Up by more than 15% from 2018, 83% said they plan on reducing their sourcing from China. The companies also cited U.S. protectionism and rising production costs as some of the main strains o...
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