Tag: Economy: Page 9

Business

Construction companies, AGC lobby Congress to spare programs from sequester cuts

With an estimated $4 billion in federal construction projects in jeopardy due to the sequestration cuts that took effect March 1, construction companies have begun lobbying the government to spare their projects, the New York Times reports. The Associated General Contractors of America has flooded Congress with e-mails and letters protesting the cuts. The sequester […]

March 14, 2013

Workforce

Big construction employment gains indicate rising contractor confidence

On Friday the latest round of figures from the U.S. Labor Department showed that the construction industry enjoyed its highest monthly gain in six years by adding 48,000 jobs in February. The construction industry employs 5.784 million Americans as of February. That’s the highest mark the industry has attained since September 2009 and is a 2.5-percent […]

March 11, 2013

Business

Contractors, equipment dealers optimistic about construction activity, rental fleet growth

The latest round of the Wells Fargo Equipment Finance Construction Optimism Quotient registered at a 106, indicating that contractors and equipment distributors are optimistic that local non-residential construction activity will improve in 2013. The Optimism Quotient is a piece of the Wells Fargo 2013 Construction Industry forecast used to gauge contractors and equipment distributors’ feeling […]

March 11, 2013

Business

Senate bill would create incentives for private transportation investment

As the federal government continues to search for ways to grapple with the country’s slowly crumbling infrastructure, two Senators have introduced a bill to the U.S. Senate that would establish a Department of Transportation fund designed to create incentives for private investment into transportation, our sister site CCJ reports. Senators Frank Lautenberg (D-N.J.) and John […]

March 5, 2013

Business

Construction spending up 7.1% annually as nine-month streak of increases is snapped

A nine-month string of increases in revised construction spending figures was snapped in January, falling 2.1 percent from December 2012 to a preliminary figure of $883.2 billion. Despite the dip, spending remains 7.1 percent higher than January 2012, according to seasonally-adjusted data released by the United States Census Bureau. Residential construction stalled from December to January, […]

March 1, 2013

Business

Transportation Sec. LaHood: “Sequester is dumb”

Our sister publication Overdrive reports that during an address to members of the American Association of State Highway and Transportation Officials outgoing Transportation Secretary Ray LaHood called the looming sequestration cuts a “meat axe approach.” The sequester is a set of across-the-board budget cuts scheduled to hit today, should Congress not come to an agreement on […]

March 1, 2013

Business

Growth slows in U.S. exports of construction equipment

After enjoying surges of 43 percent in 2011 and 28 percent in 2010, growth in U.S. exports of construction equipment slowed in 2012 to 13 percent, according to the Association of Equipment Manufacturers. Construction equipment exports grew to $26.7 billion in 2012. Despite the slowing in growth, things are much better now than they were […]

February 27, 2013

Business

New home sales surge 16% to nearly 3-year high

New home sales made a huge leap in January, rising nearly 16 percent from December 2012, according to data from from HUD and the United States Census Bureau. New single-family homes were sold at a seasonally adjusted annual rate of 437,000 in January, besting the consensus estimates of 381,000. It is the highest monthly total […]

February 26, 2013

Business

Caterpillar dealer sales fall 4% in fiscal Q1

Caterpillar recently reported that it saw worldwide dealer sales fall 4 percent in the three months ending January 31. According to a Securites and Exchange Report reviewed by the Chicago Tribune, the company saw sales decline 11 percent in North America and 12 percent in the Asia/Pacific Region. Sales in Latin America were up 3 […]

February 25, 2013

Business

Ritchie Bros. president sees turnaround for construction; unsure on value of Tier 4

The Ritchie Bros. equipment auction is in full swing here in Kissimmee, Florida, and given the robust nature of the sales company, President Rob Mackay sees things getting better for the future of the construction economy. The company saw its sales increase worldwide to $3.9 billion last year and Mackay says recent auctions in Houston, […]

February 21, 2013

Business

Obama gives more details on proposed infrastructure investments

The New York Times has obtained a summary of President Barack Obama’s plan to repair the failing infrastructure in the United States. Obama discussed the need for infrastructure investment during his State of the Union address February 13th. The goal of the President’s plan, the Times report,s is to create jobs “that cannot be outsourced,” […]

February 21, 2013

Business

Reed Construction Data complies interactive map of U.S. construction market forecasts

Reed Construction Data offers a monthly look into the future with its Expansion Index. Each month the group updates an interactive map on its website that offers a 12 to 18 month “look ahead” at the construction marketplace. Using color-coded points plotted on the map, it indicates whether a location’s construction volume is expected to expand or […]

February 21, 2013