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Bleak predictions for construction and the U.S. economy

Post Time:Nov 12,2013Classify:Industry NewsView:26

Oct. 19, officials from construction equipment maker Caterpillar Inc., Peoria, Ill., forecasted that the U.S. economy was near to, or even in, a recession, as reported in an Oct. 19 article from the Financial Times. The announcement from Caterpillar triggered a fall in U.S. markets, with the Dow Jones losing 2.6 percent, and the S&P 2.5 percent, according to an Oct. 22 article from IFA Online in the United Kingdom. Susan Marvin, president of Marvin Windows and Doors in Warroad, Minn., predicted more bleak news for commercial construction during the Midwest Glass Conference in Shakopee, Minn. Marvin forcasted the commercial construction market will start to slow, following continuing lows for the residential market. “Housing is going down. Remodeling, which was rising, is now flat. Commercial is predicted to go up, but I think that is going to start to soften,” Marvin said. Read more Marvin’s presentation during MGC in tomorrow’s WDweekly or click here for more coverage in today's e-glass weekly.Share this article:

Source: http://www.glassmagazine.com/news-item/commercial/bleak-predictions-construction-and-us-economyAuthor:

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