All signs point to a better summer in 2013 then we have seen in a number of years, is your firm position to take advantage?
The U.S. Census Bureau announced that for 2012, overall building permits have increased 30.3% and housing starts have grown 28.1%. The national Association of homebuilders are forecasting that single-family starts will grow 22% in 2013 and that single-family construction will grow another 30% in 2014.
From the consumer’s perspective confidence in the economy is growing, albeit slowly. The consumer confidence index now stands at 69.6 up from 58.4 in January. This rebound in consumer confidence stems from a settling of nerves related to the fiscal cliff uncertainty and payroll tax cuts. All this has caused consumers assessment of current business and labor market conditions to be more positive than last month. Looking ahead, consumers are cautiously optimistic about the outlook for both business and labor market conditions. Income expectations have also improved modestly.
According to the climate prediction Center, the Dallas-Fort Worth area will once again experience a hot and dry summer – of course that’s not really new! Anyone who has spent more than a few summers here knows that every summer is pretty hot and dry in this part of Texas.
So what do you have when you combine increased construction activity, rising consumer confidence and a hot summer? You have the perfect recipe for an outstanding business summer, so now is the time to prepare. If you plan to add sales or service people, now is the time to hire so when the busy and hot days are here they are up to speed and ready to be productive members of your crew. The thermometer outside may still be in the 50s, but the long, hot summer days will be here before you know it!
Market statistics from March 18, 2013 ACH&R News.
Consumer confidence statistics from the Conference Board consumer confidence survey.