March 2012
March 2012
Although there have been increases in materials and energy costs, international demand (led by China) and local demand in the Carolinas has slowed recently. This is likely to result in continued competitive bids despite an overall feeling of improvement in the market. Competition for most project sectors in the Carolinas is still fierce and we expect these factors to keep a check on bid prices for the next few months.
February 2012
February 2012
Despite increased energy costs and some increased material costs we are still seeing very competitive bidding conditions as there are still many contractors chasing relatively little work. Based on current information, and subject to local, national and international uncertainty, we are expecting low bid price escalation in the next two to three quarters.
January 2012
January 2012
Many had hoped 2011 to be a year of significant growth (at least in comparison to 2009 and 2010). However, in reality, growth has been sluggish. We have seen improved manufacturing and employment data nationally. Construction volume in the Carolinas grew overall in 2011 but there still appear to be some bumps in the road. Events playing out in other parts of the world add to the uncertainty. The decline in China’s growth and Europe’s debt problems as well as a real possibility of a second recession in some European countries have significant implications on the US economy. Despite all of this, the majority of economic predictions are that 2012 should be the year that 2011 was expected to be in terms of economic growth.
