How the Economy Looks for Lifting Equipment Companies
FINANCE
A Rising Tide
By Lauren Bongard
How the Economy Looks for Lifting Equipment Companies
The U. S. economy and the construction industry have bounced back in a big way since 2020, outperforming expectations and historical patterns.
14
When discussing the economy, it’ s tempting to focus on kitchen-table issues— inflation, grocery and gasoline prices, rent and mortgage rates, and the overall cost of living. But past the impact to wallets and bank accounts, the state of the U. S. economy directly and deeply impacts the construction industry, including the lifting equip-
Telecom & Utility Construction | Fall 2024 ment segment.
While the country and building-related industries suffered a dramatic downturn during the height of the COVID-19 pandemic, construction has bounced back in a big way in the last few years.
The truth is that the current economy is booming, even though some parts may still feel shaky. According to Eric Van Nostrand, assistant secretary for economic policy at the U. S. Department of the Treasury,“ American business investment is outperforming expectations in the post-pandemic expansion; businesses have invested $ 430 billion more this cycle than if investment followed historical patterns.”
The construction industry is seeing a lot of that investment.
“ Factory building( construction