Hot Topics

• January 2009 construction material prices are up 1.8 percent from January 2008 prices. Source: Bureau of Labor Statistics
• The Texas economy, which is the twelfth largest in the world, has a mix of industries that show better resistance to the economic crisis than many other states. In 2008, the Texas gross state product grew 2.3 percent more than the national economy. Source: Texas State Comptroller’s Office
• The recently-approved economic stimulus package will provide an influx of jobs, mainly in the areas of manufacturing, construction, engineering, healthcare and IT, with an estimated 3.5 million jobs created over the next two years. Source: The Wall Street Journal
• The cost of construction machinery and equipment continued its steady growth, increasing 1.6 percent in January 2009. Source: Bureau of Labor Statistics
• The Reed Construction Data 2009 Outlook identifies a 60 percent drop in energy prices as a boost to consumer income and reduction in operating costs, indicating the decline in spending confidence will begin to reverse course. The report also lists the Gulf Coast as the only region in the entire nation whose economy was still expanding at the end of 2008. Source: Reed Construction Data
• Thanks to the passing of the economic stimulus package, the construction industries predicted to spend the most in 2009 are manufacturing, hospitality, office buildings, educational facilities and healthcare. Source: Reed Construction Data