China Exports and Imports Hit Record Highs

China's global trade soared to record high levels last month, according to a report from CNN. The country's exports jumped 25.6% in August from one year ago to $294.3 billion, and imports spiked 33.1% to $236 billion, both the highest numbers on record.These economic strides are in despite of new coronavirus outbreaks and supply bottlenecks. "While...
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Vietnam is Latest Country to Struggle with Exports As Holiday Season Approaches

Vietnam is next in line to grapple with the challenges of widespread supply-chain woes as the country struggles to contain the coronavirus. Beginning today, Vietnam's major industrial southern provinces of Binh Duong and Dong Nai stay-home orders are extended for another 15 days."American companies that diversified their supplier bases outside of C...
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Why and How the Construction Industry is Getting Greener

The construction industry is traditionally notorious for consuming large amounts of raw materials and natural resources, but that may be about to change. The sector is making strides to find more sustainable alternatives and working to reduce its carbon footprint, according to a recent global survey from SAP, a German multinational software corpora...
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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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Global Trade Recovery Nearing Peak, WTO Report Says

Global trade continues to recover at an unexpected rate from the pandemic, but new data indicates recovery may now start plateauing, according to the World Trade Organization's (WTO) goods trade barometer reading posted today.The barometer latest reading reached a record level of 110.4, the highest number since the indicato...
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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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COVID-19 Vaccines Give Insight into How Global Supply Chains Work

A paper published this month by the Peterson Institute for International Economics analyzes how vaccine supply chains were setup during the pandemic and what it can tell us about international trade. The production and distribution of vaccines were put under unordinary pressures, but still the paper draws parallels to the cross-border trade of othe...
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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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New Study Warns of Global Merchant Sailor Shortage

The commercial shipping industry is on track to face a serious shortage of merchant sailors in five years if urgent action is not taken, according to the recent Seafarer Workforce Report from BIMCO and the International Chamber of Shipping (ICS).A merchant sailor shortage would further strain the already overwhelmed global supply chain. Commercial ...
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New US Measures on Xinjiang Would Hurt Global Trade, China says

The U.S. recently accused Xinjiang of using forced labor, which has led lawmakers to support blocking imports from the region. American companies also were warned of legal risks if they do business in this area, the Associated Press reported.The U.S. Senate approved a measure earlier this month that would block imports of goods made with forced lab...
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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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Recovery Bolsters Business Transformations, New S&P Survey Shows

Businesses are increasingly optimistic as the economy continues to recover from the pandemic, according to a survey published by S&P Global Market Intelligence this week. This optimism is despite the varying levels of transformation several companies have undergone due to COVID-19.According to the survey, 90% of businesses noted some degree of ...
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American Express Survey: Global B2B Spending is on the Rise

Business-to-business (B2B) spending continues to increase, which indicates that businesses are becoming more confident about the future economy, according to American Express Global Spend Indicator data released yesterday.Of the surveyed companies, 70% worldwide share an optimistic outlook for the next 12 months, the report finds.Companies are star...
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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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Revised NRF Report: Economic Recovery Post-COVID Stronger than Expected

The economy is expected to bounce back at a stronger rate than originally predicted in the second half of 2021, said National Retail Federation Chief Economist Jack Kleinhenz in the Monthly Economic Review earlier this month."It has become clear that the U.S. economy and retail sales are growing far faster and more steadily than anyone could have e...
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Construction Input Prices Rise 4.6% in May; Softwood Lumber Prices Up 154% From a Year Ago

Construction input prices increased 4.6% in May compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics' Producer Price Index data released today. Nonresidential construction input prices increased 4.8% for the month.Construction input prices are 24.3% higher than a year ago, w...
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Will BIM Become the Standard in the USA?

Construction projects around the world have been, and are continually being revolutionized by the techniques of Building Information Management, or BIM. The benefits of BIM in the realms of architecture, engineering, and construction are multifaceted, from improvements in speed and efficiency to reducing materials wasted and increasing safety. Thes...
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Construction Jobs Take a Hit in January

The construction industry took a hit in January after losing 3,000 jobs on net, which Associated Builders and Contractors (ABC) Chief Economist Anirban Basu likened to "the damage to many state and local government balance sheets." Despite the setback last month, ABC said the construction industry added 857,000 jobs over the past nine months and re...
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Promising End to 2020 Housing Starts Don’t Guarantee 2021 Success

The construction industry ended 2020 on relatively good terms, specifically in regards to housing starts. Despite the hit to the multifamily sector—which decreased 13.6% in December—the National Association of Home Builders (NAHB) reported that gains in single-family housing starts led to an increase in overall housing starts of nearly 6%.Acco...
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