A Construction Boom

It would seem that the North American construction sector is experiencing something of an upswing. Indeed, a recent article in USA Today (“Construction industry faces worker shortage”, November 28, 2012) explains that, after shedding 2.2 million workers over the previous four years, contractors are now struggling with worker shortages as the home-building market comes to life and some commercial sectors strengthen. This is backed up by figures from the United States Census Bureau, showing that total monthly construction spending in the U.S. reached its highest levels for three years in October 2012 ($868,215m).

The current moderate upswing in activity has been borne out by increased construction sector activity across B2B International’s U.S. operations. According to New York-based Director Julia Cupman: “Throughout the course of 2012, we noticed a steady but marked increase in research proposals and commissions for market research across all areas of construction. While our work across wide-ranging industry sectors often enables us to pick out particular industry trends and patterns, I believe this particular uplift is a positive sign of a strengthening economy at large.”

With fears raised in the UK last week of Britain heading into a triple-dip recession, let’s hope the U.S. construction sector upswing is indicative of good news for the global economy.

You can find out more about our construction market research here.

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