While construction and property development has remained a critical subject in regards to America's rebounding economy in recent months, Tom Castellanos explains that current spikes in construction spending suggest even greater expansion in the near future. Castellanos points to a recent article from USA Today that discusses the expansive growth of overall construction spending in the U.S.
The article reveals, "Spending on U.S. construction projects rose in July, led by strong gains in housing and nonresidential projects. Construction spending increased 0.6 percent in July compared with June, when activity was unchanged, the Commerce Department reported Tuesday. The June performance represented an upward revision from an initial estimate that spending had fallen 0.6 percent. Total construction activity rose to a seasonally adjusted annual rate of $900.8 billion in July, the strongest performance since June 2009."
Tom Castellanos responds, "While there have been moderate fluctuations in construction in months past, it is very critical that the industry is reaching a point that has not been witnessed for more than four years. This steady growth in spending is not only likely to make a strong impact on the growth of the roofing market, but other important sectors that provide materials, equipment, and services for such expansive development."
In addition, USA Today explains, "The advance in housing activity pushed residential construction to its highest level since September 2008. The increase for nonresidential building was led by a 6.1 percent increase in construction of hotels and motels. Office-building and the category that covers shopping centers also showed gains."
It is important to note that construction spending is not being focused on one particular area of the market, such as housing. The balance in projects being observed suggests that prosperity and development is impacting--and may continue to grow--for both residential and corporate markets," Tom Castellanos concludes.
ABOUT:
Based out of Hialeah, FL, Tom Castellanos heads East Coast Metals, Inc. as the CEO and President. Thanks to his leadership, East Coast Metals has become an industry leader in roofing, meeting the needs of its clients through innovative new techniques and practices. In this way, Castellanos has helped to revolutionize the roofing industry and steer East Coast Metals to significant growth via an overwhelming amount of support from satisfied customers. Castellanos draws upon his full career experience to offer a wide variety of quality services, including market analysis, strategy development, strategic partnerships, operational planning, and manufacturing operation reengineering.
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