The third quarter of 2022 failed to yield any concrete indicators as to how soon we can expect rate hikes to stabilize inflation or how long it will take us to dig out of an impending recession. It seems the good news of a strong labor market is now the bad news of persistent inflation and experts are taking a day-to-day approach when casting predictions. In this issue, we feature a look at the trends driving construction in the Industrial sector as well as the extreme growth manufacturing has experienced. We also dive into the structure of the Federal Reserve Bank, how rates are controlled, the factors contributing to the global energy crisis, and provide our thoughts as to the onset and duration of the predicted recession.
For the past eight years, JE Dunn has had a team focused on building industrial facilities. They have seen a significant uptick in auto and battery manufacturing in the past three years and as the demand for online ordering and delivery has skyrocketed, so has the need for warehouses and distribution centers. These increased demands, paired with a struggling supply chain have resulted in the busiest industrial sector on record. In this spotlight, Steve Haglund, Senior Preconstruction and Estimating Manager for JE Dunn’s industrial team, discusses current trends and the best ways to navigate challenges.
“Dollars spent on construction of new manufacturing facilities in the U.S. has soared 116% over the past year, dwarfing 10% gain on all building projects combined.”
As feedback and market-specific questions have been posed, we are always enhancing the depth and type of information The Look Ahead features. Our next issue will provide an outlook for 2023. Please send your comments and requests here.
