Another Role for Construction Cranes: Economic Indicator

To determine the health of the economy, you could scrutinize the minutes of Federal Reserve meetings, pore over the latest economic data and scour trade publications. Or you could simply look up.
The towering cranes that rise above development sites can be a useful financial indicator, like consumer confidence polls or housing starts, according to Rider Levett Bucknall, a construction consulting firm that uses the equipment as the basis for its RLB Crane Index.
The index, a tally of cranes in 13 major North American cities, provides a snapshot of economic sentiment, said Julian Anderson, a president of the firm’s North American region. It was created in 2015 as a tool for clients, who use it to assess hiring trends and activity in urban markets, he said.

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