US Economic Growth for 3rd Quarter Revised Up to 2.1%

Brisk inventory restocking raised initial estimates, but Q3 GDP remains well below Q2’s 3.9% growth rate

Nov 30th, 2015

The New York Times

The U.S. government revised its estimate for third-quarter GDP up, from the initial 1.5% growth rate to 2.1% last week. The upward revision nevertheless fell far short of the 3.9% growth rate estimated for the second quarter.

Nearly all of the improvement was due to revised inventory data, which showed businesses restocking shelves faster than originally estimated in Q3. Improved inventory levels were offset by a slight downward revision in consumer spending.

Nothing in the latest data is expected to derail plans by Federal Reserve policy makers to raise their benchmark interest rate at their meeting next month.

(more on Q3 U.S. GDP revision . . . )

White Cap has also acquired Crimson Steel Supply, LLC (Crimson Steel), a distributor and fabricator of engineered steel rebar and structural steel products serving non-residential and infrastructure end markets.

White Cap Expands Reach in Oklahoma, Oregon

White Cap has acquired Bend Construction - a supplier of struts, fasteners, anchors, and concrete accessories and products - and Crimson Steel - a distributor and fabricator of engineered steel rebar and structural steel products.

Located in Apodaca, a city in the Monterrey metropolitan area, the site was strategically selected to supply OEM customers with products and services such as tire mounting, sequencing, just-in-time supply and warehousing on a local basis.

OTR to Open Factory in Mexico

Located in Apodaca, a city in the Monterrey metropolitan area, the site was strategically selected to supply OEM customers with products and services such as tire mounting, sequencing, just-in-time supply and warehousing on a local basis.

The Port of Baltimore is used by many of the largest construction machinery manufacturers.

Construction Supply Chain and the Baltimore Bridge Collapse

How much will construction and other supply chains be impacted by the collapse of the Baltimore Bridge and the suspension of traffic through the Port of Baltimore? End users may temporarily face delays and increases.

AUSA will become part of the Oshkosh Access segment.

Oshkosh to Acquire AUSA

AUSA products will enhance the JLG line of telehandlers. The companies began partnering in 2020, with AUSA manufacturing the JLG-branded SkyTrak 3013 compact telehandler.

Supporting mixed fleets and mixed data connections uniquely defines the VizaLogix product approach and market differentiation.

Volvo CE Offers More Services with New Stake in Software Company

VizaLogix offers products that are different from and, in some cases, complementary to Volvo services.

Skillit catalogs worker skills at such a granular level hiring managers can search by skills that may cut across multiple trades and job titles, expanding the available workforce.

Simple Construction Apps to Solve Common Problems

Contractors and equipment fleets are adopting enterprise software and technology that can change the business, but these lightweight apps address specific pain points with minimal disruption and cost.

Flashtract technology is used to manage payment applications, lien waivers and other compliance and billing documentation electronically, eliminating back-and-forth communication and cumbersome document transfers.

Trimble Acquires Flashtract to Add Tech

The tech is designed to improve payment and info between GCs and subcontractors.

The use of Pre-Task Planning (PTP) activities can increase worker engagement with safety measures by 94%.

How Builders Can Improve Site Safety

While 80% of large contractors offer programs for substance use or mental health, only 29% of small companies offer these programs, and 52% of contractors wish they had more resources for managing mental health.

In the face of this economic uncertainty, construction businesses will undoubtedly face the urge to run out and hoard new projects as a way to insulate themselves against future economic downturns.

4 Keys to Construction Financial Management in 2024

Whether it is coping with fluctuating materials costs or navigating multi-state compliance demands, the financial management workflow within the construction industry is one of the most hectic throughout the business world.

Northern Improvement Co. goes stringless

Eliminate Rework With Equipment & Technology

Roadbuilders are most likely to be early adopters of the latest paving train models or technologies.

The Quasar 360 patented unique latch and slide assembly comes in at only 16 lbs.

Quasar 360 Balloon Light

The Quasar 360 patented unique latch and slide assembly comes in at only 16 lbs.

Adobe Stock 87254627 Yuttana Studio

5 Trends in Construction Worker Background Checks

Keeping a close eye on these trends will not only safeguard construction firms from being blindsided with liabilities, but will provide them with direction as they build their plan and adapt their background check policies for the new year to come.

Equipment rental businesses need to do their homework in order to get financing in this economic climate.

Do Your Homework to Get Financing

Having lenders who really understand the rental business and its related risks is the key to managing the business through thick and thin.

Salvors with the Unified Command continue wreckage removal from the M/V DALI, May 4, 2024, during the Key Bridge Response 2024.

Crews Ready to Remove Bridge Piece Atop Dali

Salvage crews within the Key Bridge Unified Command continue to prepare for the complex task of removing the large piece of bridge lying on top of the M/V DALI.

Bobcat Light

Bobcat PL65 Jobsite Light

Featuring a fuel-efficient Kubota engine paired with a high-output 6 kW or 8 kW alternator, Bobcat light towers provide light and power concurrently with a class-leading runtime of 105 hours.

Components that can improve visibility include rearview cameras, around-view monitor camera systems and sensors.

How to Prepare Equipment for Summer Extremes

From operator health to equipment maintenance, steps can be taken to protect the assets and people on construction sites.

National Skilled Trades Day aims to raise awareness about the benefits of skilled trades jobs in the United States.

Ways to Promote, Celebrate National Skilled Trades Day in Schools, Businesses

Skilled trade jobs often offer excellent pay, as well as benefits and healthcare.

The BILT survey found that 89% of executives were concerned that their training programs were inefficient.

Skilled Trade Labor Shortage: Time for Change

BILT released a research report that indicated that over 30% of the respondents said recent hires would resonate best with immersive digital training and yet it currently only makes up 2% of the present training methods.

A Maryland Natural Resources Police officer conducts an overflight assessment of the M/V Dali, a 948-foot Singapore-flagged container ship, and Francis Scott Key Bridge in the Patapsco River in Baltimore, Md.

Baltimore Bridge: Supporting Workers’ Families and Addressing Force Majeure Clauses

Authorities announced the discovery of the fifth body of a construction worker in the aftermath of the Baltimore bridge collapse. In light of this tragedy, experts emphasize the importance not only of safety, but for contractors to address force majeure.

Leica Geosystems’ GNSS Machine Control technology offers possibilities to enhance safety for construction workers and pedestrians around busy work sites and to protect existing and newly built infrastructure through automatic height, depth, and slew hydraulic control for excavators.

Navigate Your Possibilities With Aftermarket GPS

Integrating GPS or GNSS technology aftermarket is achievable and can provide many benefits to contractors, workers and machines.

The Spokane area has been witnessing a surge in infrastructure projects, healthcare facilities, and both commercial and residential building initiatives.

Topcon Expands Retail Territory

The store will not only cater to the needs of new customers but will also bolster existing local Topcon dealers with comprehensive parts, service, and product training support.

The Hyundai HT100V CTL working in a gravel-hauling application.

Compact Track Loaders: Benefits & Challenges

Is a CTL right for your business? Understand the advantages, drawbacks and machine capabilities.

Using modern estimating programs, workers can easily use historical scope and cost data to create more accurate estimates.

Twin Challenges for Construction in 2024: Technology and Policy Reform

The $1 trillion federal infrastructure bill, growing investment in green power infrastructure, rising U.S. consumer demand, and initiatives to reshore manufacturing have all contributed to tremendous growth in commercial construction.

Under the leadership of Andringa, Vermeer introduced the first HDD for testing in 1991.

Vermeer's Andringa Inducted Into Hall of Fame

Andringa’s journey began in the late 1980s when she expanded on the vision of the founder of Vermeer, Gary Vermeer, who aimed to install utilities underground without disturbing the surface.

Pending tax changes that will become law for 2023 and 2024 may give many contractors the opportunity to amend their 2023 tax returns and receive additional benefits that could reduce 2024 estimated tax payments.

How Potential Tax Changes May Impact Your Construction Biz

Pending tax changes may put cash in your pocket.

HVO can be used interchangeably with petroleum diesel.

Mack Trucks Uses Hydrotreated Vegetable Oil as Fuel

HVO is produced from lipid sources, such as waste vegetable oils and tallow, reducing reliance on fossil fuels and greenhouse gas (GHG) emissions.

The need to transport skilled workers to remote locations not only incurs additional costs but also poses logistical challenges for contractors.

Personal Vehicle Programs Shuttle Workers to Remote Sites

One solution to address the challenge of mobilizing skilled workers to remote jobsites is the implementation of vehicle reimbursement programs.