Perspectives on the Economic Situation

With the arrival of September, football season and just three months to go before 2023’s books close, football fans are wondering which college teams in the reshuffling conferences will make it to the top 10, and recession watchers, looking at tea leaves and listening to Fed-speak, are trying to determine when and if the long-expected economic slowdown will show up.  Both groups are focusing on teams and economic agents trying to find a new equilibrium. Most likely, the economic forecasters will do no better than their football counterparts, but here’s what we know right now. Read more from Dr. Bruce Yandle on the Economic Situation.

ABC’s Construction Backlog Indicator Steady; Construction Material Costs Increase

ABC reported that its Construction Backlog Indicator declined to 9.2 months in August, down 0.1 month, according to an ABC member survey conducted from Aug. 21 to Sept. 6. The reading is 0.5 months above the August 2022 level. Construction input prices rose 1.5% in August compared to the previous month, according to an ABC analysis of U.S. Bureau of Labor Statistics Producer Price Index data released today. Nonresidential construction input prices also increased 1.5% for the month, but are up just 0.2% from a year ago.

What’s Driving the Manufacturing Construction Boom in the Carolinas?

Business is booming for manufacturing in North Carolina and South Carolina. Historically, the Carolinas have been effective in attracting manufacturing projects. During the last few years, this investment has been driven by a number of factors, including reshoring, foreign direct investment (FDI), emerging technologies, government incentives, the energy transition, consumer demand, and more. The first article in this series examines how reshoring is driving capital investment.

October is Careers in Construction Month

NCCER’S 11th annual Careers in Construction Month (CCIM) scheduled for October 2023 is a campaign that aims to increase public awareness of construction careers and inspire the next generation of craft professionals. NCCER notes that there are many ways to get involved, including: CICM State Proclamations, the CICM Pledge, and the I BUILT THIS! Video Contest. Also, check out the FREE social media graphics available for downloading.

We hope ABC Carolinas and GroundBreak content can help provide insights and perspectives for your organization to thrive. Do you have an interesting story or perspective? Contact us.