Construction Economic News

Stay up to date on the latest construction economic news and get in-depth analysis and insights from Chief Economist Alex Carrick and Senior Economist Michael Guckes.

Michael Guckes, Chief Economist

Michael Guckes is regularly featured as an economics thought leader in national media, including USA Today, Construction Dive, and Marketplace from APM. He started in construction economics as a leading economist for the Ohio Department of Transportation. He then transitioned to manufacturing economics, where he served five years as the chief economist for Gardner Business Media. He covered all forms of manufacturing, from traditional metalworking to advanced composites fabrication. In 2022, Michael joined ConstructConnect's economics team, shifting his focus to the commercial construction market. He received his bachelor’s degree in economics and political science from Kenyon College and his MBA from the Ohio State University.

Blog Feature

By: Michael Guckes, Chief Economist
July 29th, 2022

Yesterday’s 2nd Quarter 2022 advanced gross domestic product headline reading of a 0.9% contraction was not anticipated by all; however, this may have been in part due to the uneven performance of the economy by sector.

Blog Feature

By: Michael Guckes, Chief Economist
July 28th, 2022

ConstructConnect’s Expansion Index, a monthly measure of the dollar value of construction projects in planning compared to the same month one year ago, registered 14% overall expansion in Canada and over 10% for the United States for the month of June 2022.

Blog Feature

By: Michael Guckes, Chief Economist
July 13th, 2022

According to CME Group, an American global markets company and exchange operator, and The Wall Street Journal, CME Group will be introducing a new futures contract using ticker “LBR” starting as early as August 2022. This could be a significant benefit to smaller sawmills along with general and trades contractors involved in housing construction. Among the primary reasons are:

Blog Feature

By: Michael Guckes, Chief Economist
July 6th, 2022

Earlier this month Amazon canceled or delayed the construction of over a dozen new warehouse structures. This news comes not long after the company posted its first quarterly pre-tax income loss since 2014; however, this was in part a result of the company’s acquisition of MGM Studios in early 2022. Excluding the acquisition, income from continuing operations was reported for Q1 2022 at $-3.84 billion.

Blog Feature

By: Michael Guckes, Chief Economist
June 7th, 2022

The latest data on construction materials and supplies suggest no stop to the supply chain and manufacturing challenges facing the construction industry. Unfilled orders, new orders, and total inventories all reached historic highs in current dollar prices in the latest data reported for April 2022.