Masonry Magazine March 1980 Page. 14
1980 Construction
Contracts Forecast
At $169.5 Billion
Construction contracts in 1980 will total $169.5 billion, 2 percent more than the anticipated level of $165.5 billion in 1979. But after accounting for the impact of inflation, the actual volume of 1980 construction will be down by 8 percent, according to McGraw-Hill Information Systems Co.
This forecast was presented to more than 600 executives attending the annual Building Products Executives Conference in Washington, D.C., by George A. Christie, the company's vice president and chief economist.
Christie expects nonresidential building contracts to total $48.3 billion in 1980, a 2 percent decline from the estimated $49.3 billion for 1979; residential construction will come to $75.9 billion, a 3 percent increase over the anticipated 1979 figure of $73.7 billion.
The McGraw-Hill economist warned that as the Federal Reserve Board seeks the "ultimate rate of interest" to deter inflation, the housing market will stagnate. "The real recession still hasn't arrived," he said. "It will take place during the next two quarters when production is cut back in order to get inventories down."
Sheffield, Yahr Installed
In Top Posts at NCMA
Donald C. Sheffield was installed in office as chairman of the board and Frederick H. Yahr as chairman-elect of the National Concrete Masonry Association during the trade group's recent annual convention in Phoenix, Ariz.
Sheffield is president of Mathis-Akins Concrete Block Co., Inc., Macon, Ga. A registered professional engineer in Georgia, Sheffield is a past-president of the Georgia Concrete Masonry Association and the Georgia Society of Professional Engineers.
Yahr is president of Bend Industries, Inc., West Bend, Wis., and of six other Wisconsin building materials firms.
National Gypsum's Net
Rises 38% in 1979
National Gypsum Co., Dallas, Texas, announced that net earnings for the year 1979 were $80.3 million, or $4.87 per share, up from $58.3 million or $3.56 per share in 1978. Sales from continuing operations increased 12% to a new high of $853.6 million from the previous year's record $762.6 million.
In discussing the 1980 outlook, Robert E. Scifres, National Gypsum's chairman and chief executive officer, said, "We expect the strength of the remodeling and repair markets to reduce the effect of the decline in new residential construction."
Wage/Price Brochure
An eight page brochure, The Wage Price Program, is available from the international accounting firm of Arthur Andersen & Co. The brochure includes a description of a computer software system that a company can use to calculate, plan and monitor compliance with the government's wage/price standards.
For a copy, contact any Arthur Andersen office or write to Arthur Andersen & Co., 69 W. Washington St., Chicago, III. 60602.
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