Paul Young’s Post

Midyear construction check: Cooling inflation boosts most sectors https://lnkd.in/gXXXx-Up

Very insightful article from Construction Dive about current economic conditions. Good to see construction input pricing ratchet back for the first time in 2024. The article also highlights the importance of cost management, but that does not only apply to contractors and their bottom line. Predictive cost management is also critical for owners and developers as well.

Dodge Construction Network released it’s 2024 Construction Forecast which highlights after a year where the economy and construction starts slowed considerably, that we will be seeing a stronger growth for construction. Total construction starts will gain +7% to $1.2 trillion, after growth slowed to just +1% in 2023 (and was down to -2% after adjusting for inflation). Key growth sectors include multifamily construction surging 14% to $153MM, manufacturing construction seeing a 16% gain, and institutional construction seeing a +3% increase to $194MM. If you delayed your job search (or hiring) waiting on reassurance with market stabilization, now is the time to have a conversation - reach out to learn about what makes us market sector specialists within the construction industry across the US, and how we continuing to place top candidates into roles! https://lnkd.in/gtYtB4Cd

Despite rising material costs and economic uncertainty, the U.S. construction industry is booming! Federal investments, innovative technology, and regional adaptability are fueling unprecedented growth, with construction spending up 41% since 2020. As federal incentives boost infrastructure, clean energy, and manufacturing, U.S. contractors are expanding into new markets like Miami, Austin, and Phoenix, capitalizing on growth opportunities. The U.S. continues to lead in construction innovation, with 80% of global venture capital for construction tech flowing into the country. Read more about the factors driving this surge and the resilient U.S. economy in construction! . . . #ConstructionBoom #USConstruction #InfrastructureGrowth #Innovation #RealStructuresLLC #BuildingTheFuture

Exciting Times Ahead for Manufacturing Construction! Despite signs of a slowdown since May 2023, the manufacturing construction sector remains robust. Dodge Construction Network reports a dip in starts, raising questions, but industry leaders are optimistic. 👷 Andrew Ahrendt, National Director of Manufacturing at PCL Construction, reassures that the sector is bustling, and slowdown fears are unfounded. JE Dunn and Clayco echo this sentiment, with plans for major projects in 2024, showcasing confidence in the market. 🌐 Challenges persist, including supply chain delays in materials like microchips and HVAC equipment. Brent Strength from JE Dunn highlights lead time issues but emphasizes the importance of working with firms adept at navigating challenges. 💡 Anthony Johnson, President of Industrial Business Unit at Clayco, anticipates a surge in advanced manufacturing investment in 2024. While labor shortages and delayed projects pose challenges, the industry is adapting to new models and tax credits, keeping momentum positive. 📈 Dodge Construction Network expects starts to surge to $112 billion in 2024, indicating a potential second wave of projects. The industry anticipates addressing labor shortages and capitalizing on tax credits, ensuring a positive trajectory in the years to come. #manufacturingindustry #constructionindustry #BusinessOptimism #buildingautomation #wago #chipsact #inflationreductionact #tsmc

Lots of optimism for construction in the US in 2024! “The planning queue is stabilizing, and the promise of lower rates should spur construction onward. While hurdles remain, including scarce labor and tight credit, 2024 should be a more positive year for the construction sector.” Reach out if you want to learn how #SYNCHRO can make your 2024 even better. #constructiontechnology

As #roadconstruction season gets underway across the U.S., the Michigan Department of Transportation has updated drivers on its upcoming road projects. Read the full story at the link below! #news #usnews #construction #constructionnews #roadconstruction #constructionindustry #transportation #engineering #RoadsAndBridges

Since 2021, the U.S. has experienced a surge in construction, with projects totaling an astounding $500 billion, spanning sectors like semiconductor manufacturing, electric vehicles, and clean energy. About one-third of these projects are already underway, indicating a robust pipeline. Looking ahead, experts predict an annual contract value of $60 billion by 2030, showcasing sustained growth. Key legislation, including the Infrastructure Investment and Jobs Act, the Inflation Reduction Act, and the CHIPS Act, has been instrumental in driving this construction boom. These laws provide both financial support and strategic direction, focusing on vital sectors like manufacturing, transportation infrastructure, and clean energy. With sustainability initiatives like the Federal Buy Clean Initiative and funding for energy-efficient improvements, the U.S. government is actively shaping a greener future for construction. How do you anticipate these initiatives influencing the construction landscape in the next decade? 🤔 https://lnkd.in/g7YhhVuj

What can we do to navigate an economy that is both strong and challenging? Though economists expect a softening in the first half of 2024, projections for the second half of the year indicate a return to stronger growth, more normalcy and momentum building into 2025. Read more in ELECTRICAL CONTRACTOR Magazine's 2024 Construction Outlook 👉 https://hubs.ly/Q02kfvZs0

𝐂𝐡𝐢𝐧𝐚 𝐒𝐭𝐚𝐭𝐞 𝐂𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫𝐢𝐧𝐠 (𝐒𝐇𝐒𝐄:𝟔𝟎𝟏𝟔𝟔𝟖) 𝐇𝐚𝐬𝐧'𝐭 𝐌𝐚𝐧𝐚𝐠𝐞𝐝 𝐓𝐨 𝐀𝐜𝐜𝐞𝐥𝐞𝐫𝐚𝐭𝐞 𝐈𝐭𝐬 𝐑𝐞𝐭𝐮𝐫𝐧𝐬 If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for? Firstly, we'd want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. Ultimately, this demonstrates that it's a business that is reinvesting profits at increasing rates of return. Having said that, from a first glance at China State Construction Engineering (SHSE:601668) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look. Understanding Return On Capital Employed (ROCE) If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. #LatestNews #News #Construction #Engineering Source - https://lnkd.in/gBknuBD8