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Alex Carrick

Alex Carrick is Chief Economist for ConstructConnect. He has delivered presentations throughout North America on the U.S., Canadian and world construction outlooks. Mr. Carrick has been with the company since 1985.

Blog Feature

Economic News

By: Alex Carrick
January 18th, 2022

There is much to discuss in this latest mid-month Nuggets report, so let’s dive right in.

Blog Feature

Economic News

By: Alex Carrick
January 17th, 2022

Currently, there’s no letup in the rising tide of construction material costs. Graph 1 shows that the average year-over-year increase for two material cost indices published along with Producer Price Index results by the Bureau of Labor Statistics is forging ahead more than twice as speedily as bid prices (i.e., +26.6% y/y vs +12.4%).

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Blog Feature

Economic News | Industry Snapshot

By: Alex Carrick
January 17th, 2022

The accompanying table records the top 10 project starts in the U.S. for November 2021.

Blog Feature

Economic News | Industry Snapshot

By: Alex Carrick
January 17th, 2022

A Less Than Impressive Megaproject Revival ConstructConnect announced today that December 2021's volume of construction starts, excluding residential work, was $25.8 billion (see shaded green box, bottom of Table 10), a decrease of -16.8% compared with November 2021's level of $31.0 billion (originally reported as $30.4 billion).

Blog Feature

Economic News | Industry Snapshot

By: Alex Carrick
January 17th, 2022

Clichés are often true and it is the case that a picture can be worth a thousand words.

Blog Feature

Economic News

By: Alex Carrick
January 7th, 2022

+199,000 Net Jobs Gain in the United States The increase in the total number of jobs in the United States between the two finishing months of 2021, November and December, according to the latest Employment Situation report from the Bureau of Labor Statistics (BLS), was +199,000.

Blog Feature

Economic News

By: Alex Carrick
January 6th, 2022

Omicron! A word that is perfect for the times. It would be easy to imagine it originating in some fictitious techno-saturated supervillain universe that has risen to prominence in popular culture. Seemingly, it’s a virus label chosen to generate maximum angst.

Blog Feature

Economic News

By: Alex Carrick
January 6th, 2022

North America’s four major stock market indices experienced another year of outstanding success in 2021. Never mind the pandemic or the fact rampant inflation is causing central banks to consider bringing forward interest rate hikes, the Dow Jones Industrial Average index and the S&P 500 both established new record highs in December. NASDAQ and the Toronto Stock Exchange ended the year down only a little from the all-time peaks they set a month earlier in November.

Blog Feature

Economic News

By: Alex Carrick
January 3rd, 2022

2021 was a good year for housing starts in the United States. In Canada, it was an outstanding year. Through the first 11 months of 2021, in America, average monthly new home groundbreakings, seasonally adjusted at an annual rate (SAAR), were +15.4% versus January-November 2020.

Blog Feature

Economic News

By: Alex Carrick
December 21st, 2021

Well before the pandemic, the construction sector was worrying over what was perceived as an acute shortage of labor. Much of the discussion on this topic over the past several years has been anecdotal. Or reference has been made to employment gains that have been less than they should be and unemployment rates that have sometimes turned spectacularly low.