Market Trends
How is Business?
When talking to other professionals the question frequently comes up, "How is business?" or "How is the economy treating you?" Being in a field that typically "front-ends" most construction, the environmental field can bellwether or serve as a leading indicator for the economy. In this newsletter we attempt to answer these questions by showcasing a market graph that depicts the trend of local environmental work over the past years. Additionally, we point out some developments that lurk in the data. I hope you find this information useful as we continue to look at the crystal ball of the economic future.
Recent Market Trends
Recent Leaking Tank Trends
Interestingly, the historical number of new leaking tanks sites loosely forms a bell curve with the majority of new sites generally reported in the summer months. This suggests that active (re)development during the primary construction months uncovers these known and sometimes unknown leaking tanks. A quick look at 2009 shows a 35% decrease for new leaking tank sites reported with 11 of the 12 months significantly below the historical average. Surprisingly, December of 2009 reported the highest number of new leaking tank sites, even surpassing the historical average for the month. However, this trend did not continue into 2010 as the first quarter was below the historical average with a 30% to 50% decreases in the number of new leaking tank sites. The anomalously large number of new leaking tank sites in December could be a result of banks restructuring from inherited properties. There is a slight increase in the number of new leaking tank sites in June and July which could indicate we are in a slow recovery, however, the numbers are still below the quarterly average from previous years.
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