Construction Curiosities #107
ConTech Best Practices | What does "RFI" stand for? (wrong answers only)
Hey! Happy Saturday! Matt here.
Welcome to the Construction Curiosities newsletter!
This weekly Newsletter explores the Curiosities of the Construction Industry. It's meant to help Drag the Construction Industry into the 21st Century by making you think, smile, and become motivated to drive innovation in your realm of the industry.
The Newsletter will focus on 4 primary areas of Innovation:
Technology & Tools
Growth Marketing
Upskilling/ Mentorship
Being People First in all of the Above
We won’t hit on each of these topics every week but that’s what is in rotation!
Summary
This week we will look at:
One Other Newsletter: ConTech Best Practices
One Article: Construction Planning Jumps
One Social Post: What does "RFI" stand for? (wrong answers only)
One Meme: Document Control Catastrophe
One Other Newsletter:
If you aren’t following Bhragan and the Last Week in ConTech substack, you are missing out!
He’s a machine, pumping out ConTech News and highly researched Best Practices articles like this one.
Get more here: Last Week in ConTech
Want to be featured in a future Construction Curiosities Newsletter???
Want to be featured in a future Construction Curiosities Newsletter like AJ??
Welp, here’s your chance
There are only a few rules:
1. The Article has to be about something in the Construction Industry (duh)
2. The Article needs to be long enough to cover the topic but not a novel!
3. I get to insert Memes & Gifs within the article 😁
Submit your articles here: Construction Curiosities Guest Article Submission
One Article:
Owners push more projects into planning
The Dodge Momentum Index, a benchmark that measures nonresidential construction planning, climbed 7.9% in July due to notable increases across several commercial and institutional segments, according to the Dodge Construction Network.
Commercial planning, fueled by data center work, jumped 6.8% in July, while institutional planning, which includes education, life sciences and healthcare builds, surged 11.1% over the month.
“The potential Fed rate cut in September is becoming increasingly more likely, alongside slower inflation and weaker labor market conditions,” said Sarah Martin, associate director of forecasting at Dodge Construction Network, in the release. “This is likely driving owners and developers to remain optimistic about 2025 market conditions and pushing more projects into the planning queue.”
Are we getting rate cuts? Are we headed into a recession by year-end?
But at least this is some promising news as Owner’s aren’t completely taking projects off the table…. hopefully, to not just get mothballed after planning...
“The construction market remains sluggish as high interest rates continue to reverberate through the sector. However, the Dodge Momentum Index, which tracks nonresidential building projects entering the planning phase, has been reasonably steady over the last year indicating that owners and developers remain cautiously optimistic that the conditions will be more conducive to construction in the future. But moribund starts activity means that these projects are piling up like water behind a dam. Lower rates in 2024 will allow these projects to start flowing again, resulting in a quicker pace of activity towards year-end.”
- Richard Branch, chief economist of Dodge Construction Network
One Social Post
Ok AJ… I lied. I didn’t come back and answer it. But here are my favorites:
Check out the full post and all 50+ comments: HERE
One Meme
⚡ Construction Yeti is powered by Alt.CMO: Building Momentum for your brand.
🛑 STOP TEACHING CONSTRUCTION TO YOUR MARKETING FOLKS.
At Alt.CMO, we come from the Construction Industry. We get the nuances of the Industry.
Executive Level Experienced Chief Marketing Officers on a fractional level at the cost of a full-time coordinator.
Shoot me a message to learn more: matt@altcmo.net
See y’all next week! ✌
