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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

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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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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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Historic job growth in 2022 reflects strong but uneven economic recovery: State and local lawmakers should prioritize rebuilding the public sector in 2023

CFO News Room

The economic recovery since 2020 Private-sector employment has largely returned to pre-pandemic levels across the country, except for the leisure and hospitality sector, which faced large job losses and remains 5.5% State and local lawmakers should seize it. below February 2020 employment levels.

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The UK Construction Sector’s B2B Payment Practices Crumble

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28) concluded that 55 percent of companies in the construction subcontracting industry feel powerless to influence the payment terms of their contracts with larger construction companies. economic health are their biggest hurdles over the next 12 months. ” With small construction subcontractors in the U.K.

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Home Construction Rebounds In May, But Trouble Lingers

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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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Fed Report: 2020 Closes Out With Slight Economic Uptick 

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economy posted slight gains in the pandemic year of 2020, after closing the books on what was one of the most dismal economic fallouts in history, according to the Federal Reserve’s Beige Book report on Wednesday (Jan. Low real estate inventories combined with rising construction costs caused the continued rise of housing market prices.