Nonresidential Construction Spending in March Gives 'False Sense' of What's Ahead

As the U.S. experiences this drastic economic downturn from COVID-19, Associated Builders and Contractors (ABC) revealed only a slight dip in nonresidential construction spending in March for a total of nearly $803 billion. Despite falling 0.1% in March, nonresidential construction spending increased 2% over the prior yearAccording to ABC, 12 of th...
Continue reading
0
  932 Hits
  0 Comments
Tags:
nacmblog
Tweet
932 Hits
0 Comments

NACM's April CMI Sinks Deeper into Contraction

To say the Credit Managers' Index (CMI) from NACM is "down in the dumps" is an understatement, yet there are still a few positives in April's CMI. While not bottoming out at the record low seen during the Great Recession, the current combined score of 40.6 is uncomfortably low. January 2009 is the CMI's all-time low with a score of 39.7. "There has...
Continue reading
0
  673 Hits
  0 Comments
Tags:
nacmblog
Tweet
673 Hits
0 Comments

Few Contractors Are Confident About the Future Thanks to COVID-19

Contractors are not anticipating a bright foreseeable future, at least for the time being, thanks to COVID-19. According to a recent report from Associated Builders and Contractors (ABC), its Construction Confidence Index (CCI), reached an all-time low in readings for sales, profit margins and staffing levels, with all three scores plummeting below...
Continue reading
0
  814 Hits
  0 Comments
Tags:
nacmblog
Tweet
814 Hits
0 Comments

New Home Sales Plummet in March

New single-family home sales have finally felt the impact of the coronavirus outbreak. Sales plummeted 15.4% in March from the revised February rate, according to the Census Bureau and Department of Housing and Urban Development. Sales are also 9.5% below March 2019. "Despite the sharp decline in new home sales this month, the first quarter of 2020...
Continue reading
0
  745 Hits
  0 Comments
Tags:
nacmblog
Tweet
745 Hits
0 Comments

Existing-Home Sales Decline Due to COVID-19

The coronavirus has made its mark on the world economy; now it has hit U.S. existing-home sales. Sales declined 8.5% in March to a seasonally adjusted annual rate of 5.27 million, according to the National Association of Realtors (NAR). However, year-over-year sales are up 0.8% since March 2019. This is the ninth straight month of YOY sales increas...
Continue reading
0
  1339 Hits
  0 Comments
Tags:
nacmblog
Tweet
1339 Hits
0 Comments

SMBs Wait for What's Next After PPP Funds Run Out

Two weeks after its launch, the Payment Protection Program's (PPP) $349 billion in small business loans has run out, leaving hundreds of thousands of small businesses that didn't receive funding scrambling for assistance. Additional bailout money is under discussion in Congress, yet president and CEO of Atlanta's Federal Reserve Bank Raphael Bostic...
Continue reading
0
  941 Hits
  0 Comments
Tags:
nacmblog
Tweet
941 Hits
0 Comments

March Housing Starts Impacted by Coronavirus

U.S. housing starts have been greatly impacted by the outbreak of the coronavirus. Privately owned housing starts fell more than 22% in March to a seasonally adjusted rate of 1.216 million, according to the Census Bureau and Department of Housing and Urban Development. The staggering drop was the largest monthly step-back since March 1984, states R...
Continue reading
0
  1036 Hits
  0 Comments
Tags:
nacmblog
Tweet
1036 Hits
0 Comments

Department Stores at Risk to Default Amid Pandemic

Amid the COVID-19 pandemic, many credit managers fear their customers may default or file for bankruptcy. According to a recent article in RetailDive, department stores are the most at-risk for defaulting on debt within a year. Department stores are the highest at-risk among consumer companies, with a 42.1% median probability of defaulting on debt....
Continue reading
0
  968 Hits
  0 Comments
Tags:
nacmblog
Tweet
968 Hits
0 Comments

Construction Industry Turns to Layoffs, Furloughs Amidst COVID-19

April is often the time of year when construction begins ramping up, bringing in plenty of business after the winter months. However, COVID-19 is throwing a wrench into the situation as many construction companies are now laying off or furloughing their employees. According to a survey of nearly 1,300 respondents from Associated General Contractors...
Continue reading
0
  787 Hits
  0 Comments
Tags:
nacmblog
Tweet
787 Hits
0 Comments

Construction Input Prices Slip in March

Construction input prices are on the decline, yet the full impact of the coronavirus outbreak has not been accounted for since the Producer Price Index (PPI) from the Bureau of Labor Statistics pricing date on March 10. Input prices dropped 1% in March, according to the Associated Builders and Contractors (ABC). "Deflationary pressures are weighing...
Continue reading
0
  533 Hits
  0 Comments
Tags:
nacmblog
Tweet
533 Hits
0 Comments

System to Aid Small Businesses Affected by COVID-19 Launches

A new system to help ailing small businesses in the wake of the COVID-19 pandemic launched April 8, according to an article in Reuters. The U.S. government has approved a $350 billion program to help move small businesses along during these uncertain times.Small businesses affected by the coronavirus are eligible to apply for government-guaranteed ...
Continue reading
0
  654 Hits
  0 Comments
Tags:
nacmblog
Tweet
654 Hits
0 Comments

COVID-19 Ravages March Construction Employment

COVID-19 has ravaged employment nationwide and if further proof was necessary, the construction industry declined by 29,000 jobs in March. A recent report from Associated Builders and Contractors (ABC) revealed the dramatic drop, which included the loss of 24,600 nonresidential construction jobs.With a March unemployment rate of nearly 7%, the cons...
Continue reading
0
  565 Hits
  0 Comments
Tags:
nacmblog
Tweet
565 Hits
0 Comments

Construction Spending Dips Ahead of Outbreak Impact

As the world waits to see how much of an impact the coronavirus will have on March data points, U.S. construction spending took a slight dip in February. Construction spending was at a seasonally adjusted annual rate of $1,366.7 billion, which is down 1.3% from January, states the Census Bureau. However, February's spending is 6% higher than Februa...
Continue reading
0
  976 Hits
  0 Comments
Tags:
nacmblog
Tweet
976 Hits
0 Comments

Manufacturing Sector Begins to Slow Down

Manufacturing began to see a slowdown in March, but not on the scale originally anticipated, according to a recent article in Reuters. This is likely because the activity in manufacturing has not yet caught up to the severity of the COVID-19 pandemic as shutdowns in the U.S. did not begin until the second or so week of March—but the readings are st...
Continue reading
0
  512 Hits
  0 Comments
Tags:
nacmblog
Tweet
512 Hits
0 Comments

CARES Act Helps Construction Industry

Industries nationwide are struggling to navigate the coronavirus outbreak and how it will potentially impact future business. On March 27, U.S. President Donald Trump signed the Coronavirus Aid, Relief and Economic Security (CARES) Act into law in an effort to help citizens personally and professionally, including the construction industry.Under th...
Continue reading
0
  1674 Hits
  0 Comments
Tags:
nacmblog
Tweet
1674 Hits
0 Comments

March CMI Plummets as Outbreak Continues

Not much good will come by looking at the raw numbers of the March Credit Managers' Index from NACM, yet it's not all bad. Despite a massive 7.2-point combined decline in March, mostly due to only a couple factors, there are several places to find some hidden gold. The coronavirus has hampered the global economy for weeks, but it is only now actual...
Continue reading
0
  664 Hits
  0 Comments
Tags:
nacmblog
Tweet
664 Hits
0 Comments

Senate to Vote on COVID-19 Relief Bill, Allocating Money to Businesses

Senators will vote again March 25 on whether to pass the $2 trillion bipartisan package to help stimulate the U.S. economy. While the Senate will vote on this bill, the House of Representatives likely will not act on it until March 26, according to a recent article in Reuters. While the full package has not been announced to the public, most of the...
Continue reading
0
  1094 Hits
  0 Comments
Tags:
nacmblog
Tweet
1094 Hits
0 Comments

New Home Sales Dip; Still Strong

New single-family home sales are on the decline; however, new data from the Census Bureau and Department of Housing and Urban Development does not include the recent impacts of the coronavirus. The joint announcement states February's seasonally adjusted rate is 765,000, down 4.4% from January, but 14.3% ahead of February 2019. Economists predicted...
Continue reading
0
  582 Hits
  0 Comments
Tags:
nacmblog
Tweet
582 Hits
0 Comments

Coronavirus Sparks Rise in Fraud

Where there's a will, there's a way, and fraudsters are taking that proverb to heart amidst the COVID-19 outbreak. According to cybersecurity firm Proofpoint Inc., phishing attacks have increased dramatically since January as criminals send emails posing as legitimate businesses.Earlier this month, The Wall Street Journal (WSJ) reported Proofpoint'...
Continue reading
0
  1252 Hits
  0 Comments
Tags:
nacmblog
Tweet
1252 Hits
0 Comments

Existing-Home Sales Hit 13-Year High

Existing-home sales in the U.S. jumped to a 13-year high in February; however, the gains should be taken with a grain of salt as the data was collected before the coronavirus became so widespread. Sales of single-family homes, townhouses, condos and co-ops increased 6.5% from January, according to the National Association of Realtors. February was ...
Continue reading
0
  642 Hits
  0 Comments
Tags:
nacmblog
Tweet
642 Hits
0 Comments
       
1 2 3 4 5 6 7 8 9 10