It is not our intention to become The Economist of Fort Worth, but the numbers attached to the economy are just too good to ignore.
Singling out North Texas, data and analytics from McGraw Hill Construction show commercial construction in North Texas is growing. Contracts awarded in October totaled more than 361 million. Compare that number to the same time a year ago when contracts totaled just over 343 million.
Nationally, while construction spending dropped .1 percent in September, that number rose 1.1 percent in October. Another indicator being used comes from the American Institute of Architects, which is reporting greater demand for their services. According to the Star-Telegram, the AIA report the “October billings index was 53.7. Any score above 50 indicates that billings increased.”
Overall, across the nation, 321,000 jobs were added while the unemployment rate remained steady at 5.8 percent. The data has led some analysts to believe stronger-than-expected economic growth is coming our way in 2015.
As we close out 2014, and prepare for next year, we’re excited to see such positive numbers, not only for our particular industry and region, but across the board and the country.