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GDP Revision Improves Construction Outlook
There was good news for the construction outlook in today’s small upward revision of 1st quarter GDP growth from 0.6% to 0.9%. The revision increased construction spending, reversing the false assumption by the Bureau of Economic Analysis that nonresidential construction activity fell in March. The revisions also cut unwanted inventory accumulation, a potential depressant on business investment and cut the trade deficit, a sign that foreign demand for US goods continues to expand. A marginal rise in corporate profits was reported for the 1st quarter, after a big dip the previous quarter. This is positive for both business confidence and the ability to finance facility investments from cash flow.
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Favorite Book 2007
The Toyota Way is my favorite book for 2007. It had so many good ideas that I could not keep up and ended up reading it again and even buying the Field Book to go along with it.
Download Elegant Solutions from Change This which provides some highlights of the Toyota Production System. Too many ideas that are applicable to contractors to even count!
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