It is essential that construction industry professionals stay informed about the health of the construction market in their local areas. The California Construction industry has a lot of factors that contribute to its success, and downturn. Understanding the trends will assist industry experts in making informed decisions, anticipate the needs of their company, and choose projects with a vision for success. But, what factors do professionals look for in the construction industry if you are not an economist or an analytical strategist?
Here are seven areas to watch for that offer better insight into the construction industry as a whole for the California Construction Market in April 2017:
Overall, the California Health Indicator has a value of 72.8. This value is primarily influenced by the following:
⬆ Higher than average values of total construction employment in the California Region – the last observation in December 2016 was a relatively highvalue for total construction employment in the California Region.
⬇ Relatively low values of total private companies in construction in the California Region – figures for total private companies in construction in the California Region are lower than usual. The most recent observation is 11.5% higher than the all-time lowest value.
⬇ Growth in weekly employee earnings in Hawaii – the 8.9% jump in weekly employee earnings since last month was the most notable change.
⬇ Drop in 1-unit housing permits in the California Region – the 21.9% drop in 1-unit housing permits was the most notable deviation in January 2017. Prior to the decrease this month, 1-unit housing permits had been increasing for 2 months.
⬆ Higher than average values of total construction employment in the California Region – the last observation in December 2016 was a relatively highvalue for total construction employment in the California Construction Region.
⬇ Relatively low values of total private companies in construction in the California Region – figures for total private companies in construction in the California Region are lower than usual. The most recent observation is 11.5% higher than the all-time lowest value.
⬇ Growth in weekly employee earnings in Hawaii – the 8.9% jump in weekly employee earnings since last month was the most notable change.
All information gathered was garnered by Anirban Basu, Chairman & CEO of Sage Policy Group, Inc., an economic and policy consulting firm headquartered in Baltimore, Maryland with offices in Pennsylvania and Indonesia. The firm provides strategic analytical services to energy suppliers, law firms, medical systems, government agencies, and real estate developers among others.
