According to the Construction Association
of Michigan's (CAM) quarterly business sentiment and
expectations survey, we can remain optimistic as business conditions continue
to improve.
Contractor sentiment suggests
building activity increased to 65.6 in April from 60.0 in March. (Chart #1
all variables). Meanwhile their
expectations for continued growth into the next quarter remain optimistic
and increased to 71.9 in April from 68.5
in March. (Chart #2 all variables)
(Chart 1, Building Activity Increasing <50)
(Chart 1, Building Activity Increasing <50)
Despite the slowing economy as reported in the general media, Michigan regional contractors and construction managers experienced a 2.8% growth in bid requests this year. Awards in the near term are accelerating as contracts for new construction and renovations also increased by 4.8% between February and April 2012, over 2 times the amount experienced in the same period last year.
(Chart 2 Expected Growth)
Input costs for materials are moderating while labor costs continue to be a challenge. The workforce remains steady to declining and expectations suggest labor costs are moderate with materials. Overall, the industry remains optimistic that it will experience continued growth which is great news for everyone in this region.
About Midwest Mosaic:
Midwest Mosaic, Inc. provides
skilled ceramic tile installation services to the residential and commercial
construction markets in the tri-state region near Toledo, Ohio USA, including;
Detroit, Ann Arbor, Cleveland, Sandusky, Columbus, Dayton, Fort Wayne, and
South Bend. The company features market pricing with superior
performance, more value for your money. Midwest clients include Kroger, the #1
US grocery, and Wal Mart, the #1 retailer, as well as many prominent private
individuals. Mosaic is led by Malcolm Campbell, MBA, IMI, CIT, LEED-Green
Assoc. Campbell provides articles such as these for insight into the
current market conditions.
