Shutdown is Over but Uncertainty Remains

October 22nd, 2013 | Category: Featured Content, Industry News

Though the government is back up and running the problems are far from over and its effect on the window film industry, as well as housing and construction in general, remains. That was the consensus among panelists in the recent Economic Webcast: The 2014 Outlook: Emerging Opportunities for Construction, sponsored by Reed Construction Data.

Dr. Bernard Markstein, chief economist for Reed Construction Data, may have said it best when stating that, though the shutdown is over, there are still risks to the economy.

“It may take a while to sort out its effects,” he said. “It [shutdown] has done a lot of damage along the way.”

“What has passed is a short-term solution and we have not solved anything,” added Markstein. “We have kicked the can down the road.”

He added that the government now has three months to thrash out a budget and hopefully raise the debt ceiling.

“So this could all happen again,” said Markstein. “Being somewhat optimistic I hope that doesn’t happen.”

As for the hope of increasing construction numbers in the coming years, which equates to more glass surfaces that may require window film retrofits, indicators may now show mixed numbers for the coming year following potential setbacks from the shutdown.

 

According to Reed Construction Data, "Commercial construction turned around in 2012 and is expected to continue to improve."

According to Reed Construction Data, “Commercial construction turned around in 2012 and is expected to continue to improve.”

 

Kermit Baker, chief economist for the American Institute of Architects says, “I predict low single-digit growth this year for commercial construction.” But there is a caveat. “This doesn’t factor in the government shutdown and debt ceiling debates.”

Kermit Baker, chief economist for the American Institute of Architects says, “I predict low single-digit growth this year for commercial construction.” But there is a caveat. “This doesn’t factor in the government shutdown and debt ceiling debates.”

 

Total construction spending is predicted to increase over the next two years, not factoring in any effects of the partial government shutdown.

Total construction spending is predicted to increase over the next two years, not factoring in any effects of the partial government shutdown.

 

Reed Construction Data predicts that residential improvements will increase in the billions during 2014 and 2015.

Reed Construction Data predicts that residential improvements will increase over 2014 and 2015.

 

 

 

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