Growth and Caution: New Construction Industry…

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Phil Puccio

TL;DR: Hiring is increasing across the industry, regionally and vertically. Cash flow and new projects also increased in the first quarter of 2022 compared to the previous quarter, but remain below the level of the first quarter of 2021.

The figures in our latest Construction Metrics Index for the second half of 2021 were bullish; But when the year-over-year numbers from the first quarter of 2022 rolled in, it was clear the anticipation had cooled. However, there is still a lot of upward momentum to be found in the construction figures from quarter to quarter from the 1st quarter of 2022.

Hiring is increasing across the industry, regionally and vertically. While gains are modest, given the hiring challenges not only in the construction industry but nationwide, any increase is worthy of celebration.

Cash flow also rose significantly, showing that contractors are likely preparing to launch new projects, many of which are coming online under the recently passed $1 trillion bipartisan infrastructure bill.

New projects were also up quarter-on-quarter but still down year-on-year. Contract values ​​also remained low across the industry. This tells the story of a construction industry still feeling its way through several years of pandemic pain, supply chain testing and ongoing challenges in skills and efficiency.

Read on as we break down some of the numbers behind the trends, or skip ahead and Download the latest Index of Engineering Metrics Q1 2022.

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Original Source: https://www.viewpoint.com/blog/construction-metrics-index-q1-2022
Category – Construction

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