Happy New Year, A Look Ahead??
ProNovos Construction Intelligence
Construction software that puts contractors in control of their projects and data
As we step into 2024, anticipation is high for the construction economy's trajectory. In this edition, we delve into the challenges of filling crucial industry roles, offer a sneak peek into the first half of the year with a major construction event on the horizon, and explore the impact of interest rates on construction starts. Plus, we're thrilled to introduce a new member to the ProNovos team.
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Happy New Year from our team to yours! ????
STATE OF THE INDUSTRY
?? What will the 2024 Construction Economy look like?
The outlook for the construction industry in 2024 presents a nuanced landscape. Despite challenges like a declining Construction Backlog Indicator and persistent supply-chain issues, recent polling indicates an overall market improvement. Growth in residential and manufacturing sectors contributes to a positive outlook, although a small and short-lived recession is predicted. For detailed insights into the economic landscape, this offers valuable information.
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?????Toughest Jobs to Fill
Some of the toughest positions to staff from 2023 are the most vital. According to the AGC, 91% of its members had trouble filling positions last year. The number of workers needed has failed to meet the demands.
?? First-half Look Ahead of Construction Events in 2024
Here's a list of major conferences scheduled for the first half of 2024:
January 10-12, Newport Beach, CA, Construction Safety & Health Conference
January 22-25, Las Vegas, NV, World of Concrete
February 26-29, Las Vegas, NV, Sage Transform
March 10-12, Philadelphia, PA, CMAA Annual Conference
March 13-15, Kissimmee, FL, ABC Convention
March 19-22, San Diego, CA, AGC of America Convention
April 22-25, Nashville, TN, Foundation Software's Converge
May 18-22, Dallas, TX, CFMA Annual Conference and Exhibition
领英推荐
June 5-8, Washington D.C., AIA National Conference
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?? Construction Starts Slowed Down by High Interest Rates
High interest rates caused total?construction starts to plunge 15% in November to a seasonally adjusted annual rate of $927 billion, a 10-month low, according to Dodge Construction Network. Economist anticipate a weak start until mid-2024.?
STATE OF CONTECH
Gravel gets funding from NEA to support Indonesia's booming construction industry
ConTech surpasses $30B in funding since 2014, continuing a major streak of growth
Startups swim in cash as established firms face pressure with customer growth and adoption issues
STATE OF PRONOVOS
With a robust background spanning over 14 years in the construction industry Bobby brings a wealth of expertise and experience to the new role. His addition signifies ProNovos commitment to fostering innovation and driving excellence.?
Discover the game-changing power of our innovative Project Review feature, designed to revolutionize your entire project performance review strategy. Unleash the potential of this cutting-edge tool as we guide you through a transformative demonstration that will reshape the way you approach projects.
Watch the transformative power of ProNovos on your financial statements and unlock unparalleled insights for reliable financial analysis.
Construction billing management is a cornerstone activity for every construction manager. Its significance can’t be overstated, especially when you consider the challenges associated with maintaining cash flow in this industry. With monthly billing cycles, there’s no margin for error.
Learn more about ProNovos and subscribe to get the Monthly Takeoff delivered to your inbox at pronovos.com
Exciting times ahead! ?? As Henry Ford once said, "Coming together is a beginning, staying together is progress, and working together is success." Your focus on collaboration and industry insights is inspiring. Speaking of working together for success, Treegens is proud to sponsor an event aiming for the Guinness World Record of Tree Planting. It’s a unique opportunity for companies in the construction economy to get involved. Join us: https://bit.ly/TreeGuinnessWorldRecord ???
Exciting times ahead! ?? As Steve Jobs once said, “Innovation distinguishes between a leader and a follower.” It seems like ProNovos is paving the way in the construction economy. Can't wait to see how the new team member contributes to this trailblazing journey! ???? #InnovationInConstruction