Log in

Business News

  • Wed, February 13, 2019 3:02 PM | CIRT News (Administrator)

    CIRT’s Sentiment Index Report for the 1st Quarter of 2019 showed a drop from 66.3 to 64.8 overall, with the subset Design Index falling from 73.4 to 70.8. Both indexes saw a steady downward trend all throughout 2018, with that trend now continuing into 2019.

    Also included in the report, members were asked about their hiring prospects for this year and what they expect to be the biggest challenges for their businesses in 2019.  

    [To read the full 1stQtr 2019 Report and details go HERE].

  • Fri, February 01, 2019 1:58 PM | CIRT News (Administrator)

    Construction spending during November 2018 was estimated at a seasonally adjusted annual rate of $1,299.9 billion, 0.8 percent above the revised October estimate of $1,289.7 billion (which changed down by $19 billion). Release of these figures were delayed by a month due to the partial federal government shutdown. The November ‘18 number is 3.4 percent above the Nov. 2017 estimate of $1,257.3 billion. During the first eleven months of 2018, construction spending amounted to $1,200.7 billion, 4.5 percent above the $1,149.3 billion for the same period in 2017.   Read more HERE.


  • Mon, December 03, 2018 2:22 PM | CIRT News (Administrator)

    Construction spending during October 2018 was estimated at a seasonally adjusted annual rate of $1,308.8 billion, 0.1 percent below the significantly downward revised September estimate to $1,310.8 billion. The October figure is still 4.9 percent above the October 2017 estimate of $1,247.5 billion. The decrease occurred in private sector spending (down nearly $4.3 billion, most of it in residential), while public sector sending held close to September levels, aided in part by the start of a new fiscal year for the federal government. During the first ten months of this year, construction spending amounted to $1,096.4 billion, a solid 5.1 percent above the $1,043.6 billion for the same period in 2017.  Read more HERE.


  • Wed, November 14, 2018 5:12 PM | Mark Casso (Administrator)

    While the overall number of successful ballot measures aimed at funding transportation projects remained about what has been seen in past elections (approximately 75% success rate), mounting resistance to spending plans is showing up in higher negative or no votes.  This is most apparent in the largest ten measures (in terms of total dollars), where only half of them passed for a combined $26 billion (with 92% of those dollars accounted for by only two FL measures), and those failing worth $22 billion.


    There may be a number of factors involved, not the least a general lack of trust in government, but there is also some evidence that use of the funds collected are being diverted.  In a 2010 Reason Foundation policy study it was estimated that nearly a quarter (23.3%, and likely higher since the study) of all Highway Trust Fund user-tax dollars were being diverted to what can be called “non-highway” uses.  This phenomenon is not isolated to federal dollars as determined by a Cato Institute study that found many state user-tax funds are also being used for purposes not strictly defined as highway needs.  While diversion of funds may seem harmless and even convenient, they may have undercut the general public’s appetite for spending measures and hurt the overall trust that the funds will be spent on their intended purpose.


Construction Industry Round Table (CIRT)  ·  8115 Old Dominion Dr., Suite 210  McLean, VA  22102-2325  · (202) 466.6777  ·  cirt@cirt.org  · Legal Notices
Copyright 2018 · All Rights Reserved.

Powered by Wild Apricot Membership Software