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Construction Industry Looks to 2023

CFO News Room

As 2022 closes and 2023 begins, we spoke with the members of our senior sales team for the construction industry to get their thoughts on the challenges construction companies will face in the new year. They have been through many business cycles and have seen construction businesses thrive, survive, and fail.

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Deep Dive: How Digital AP Can Help Construction Firms Navigate Payment, Procurement Challenges

PYMNTS

Many of these processes are decades-old and must follow complex regulatory guidelines, as is the case in the construction industry. Construction companies are facing both time and cash crunches due to dwindling work opportunities and slower payment timelines during the crisis. Late or lagging payment processes can expand costs.

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China’s economic growth to stay above target: Fitch  

Future CFO

China’s economic growth would stay above target though recovery momentum fades, said Fitch recently. Housing construction also remains very weak, the firm said. Nonetheless, Fitch said it still expects China’s economic growth to hit5.6% Nonetheless, Fitch said it still expects China’s economic growth to hit5.6%

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India can look for another year of solid economic performance: CEA

CFO News

Enthused by higher than expected GDP number in the fourth quarter of FY23, Chief Economic Adviser V Anantha Nageswaran on Wednesday said India can look for another year of solid economic performance. per cent on account of better performance by agriculture, manufacturing, mining and construction sectors.

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On the Primacy of the Consumer-Welfare Standard

CFO News Room

The consumer-welfare standard is nothing more, nor less, than an understanding and acceptance of this fundamental economic reality. It is, instead, a relationship that inheres in the nature of all economic activity. In common language we might still say that “Joe produced a table,” but economically he produced no value.

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Home Construction Rebounds In May, But Trouble Lingers

PYMNTS

home construction collapsed in March, the sector rebounded in May after steep declines caused by COVID-19 shutdowns, according to the U.S. Home construction activity is beginning to slowly reawaken, just two months after the industry experienced an unprecedented decline in activity,” said Matthew Speakman, an economist at Zillow, wrote. “We

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Why Communication Is Key To Faster Construction Payments

PYMNTS

Late payments are a headache for any industry, but the construction sector has seen some particularly detrimental effects from cash-flow bottlenecks. the collapse of construction conglomerate Carillion pulled back the curtains on the corporate’s B2B payment practices. In the U.K.,