This year, construction industry leaders have high expectations for the nation’s contractors and builders.
Things are looking good in the construction sector, and Tucker Paving is poised to get your projects completed with skill and efficiency. Throughout the U.S., industry leaders agree that the future looks bright for builders, designers, and contractors. This is a great time to get going on the projects your company is considering!
Construction Confidence Is High in 2020
In November 2019, there was a surge of confidence in the construction industry and that optimism has yet to wane. American contractors came into 2020 with high expectations, and so far have not been disappointed. A whopping 70 percent of contractors in the U.S. are expecting to see increased sales and staffing levels during the first half of 2020. Almost half of the nation’s contractors are expecting their profit margins to increase during that time period.
Overall, the U.S. economy is doing very well right now, and that is benefiting nonresidential contractors. It isn’t just a gut feeling that the construction industry is going to do well over the next few months, either. Data from ABC’s Construction Backlog Indicator backs it up. After a slight dip in expectations during December 2019, this year has been off to a roaring start.
The one area in which industry leaders are hesitant to get their hopes up too high in is profit margins. While the work is definitely there, and materials prices have been relatively stable and energy prices have recently dropped, the problem is in the workforce. Retirement rates are high, and with a historically low unemployment rate, many construction workers are finding opportunities in other fields. This leaves the industry with a shortage of skilled workers in some areas, particularly in the South and West, where construction is booming.
Tucker Paving Is Ready to Roll
Tucker Paving is ready to tackle any job you throw at us. Our crew is highly trained and experienced, so we have total confidence in our ability to get your project done to your most stringent standards. Call us today at (863) 299-2262.
