Revised Third Estimate: US GDP Growth Shows Resilience Amidst Evolving Economic Landscape
The Bureau of Economic Analysis (BEA) has released the final estimate for the United States’ Gross Domestic Product (GDP), shedding light on the resilience of the U.S. economy despite challenges such as the Federal Reserve’s interest-rate hikes. The latest figures demonstrate new growth, with real GDP expanding at an annual rate of 2.0 percent in the first quarter of 2023.
Construction Spending on US Manufacturing Plants Soars, to De-Globalize Supply Chains?
The amount spent on building manufacturing plants in May in the US jumped by 73% from a year ago, and by 147% from May 2021, to $15.7 billion, according to Census Bureau data today. This by far outpaces the increase in construction costs (more on that in a moment). Over the six years between 2015 and 2020, construction spending on factories has stagnated roughly between $6 billion and $7 billion a month.
AI Linked to New Crop of Business Email Scams Fortra joins a growing list of organizations reporting an uptick in cybercriminals’ use of social engineering, which refers to manipulation techniques designed to exploit human behavior and error to gain access to valuable information or assets. READ MORE
AI Meets Construction: Navigating the Future of Building Artificial Intelligence (AI), once a buzzword tossed around mostly in tech circles, has broken out of its shell, and it’s shaking things up in a myriad of industries – from healthcare to retail to transportation. Among these, the construction sector has seen a particularly powerful AI quake. READ MORE
How Much is Settling for Mediocre Talent Costing Your Construction Business? In the bustling world of construction, the common mantra, “time is money,” takes on a tangible reality. But what if the ticking clock isn’t the only factor chipping away at your bottom line? The caliber of your workforce, a detail often underestimated, holds a profound impact on the overall health and prosperity of your construction business. READ MORE
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