Economic Update | Let's Talk About Employee Skill Sets

CHV Group March 2024 Newsletter

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2024 Economic Growth Update

Solid growth has continued into March, with the forecast expected to align with the projected 2% GDP growth for the year. To view the complete report, click here

The overall slowdown in the pace of output growth reflected a slight loss of momentum in the service sector, where activity rose at the weakest pace in three months. Anecdotal evidence suggested that price pressures had restricted new orders growth in the service sector. As a result, the rate of new business growth in the service sector also softened.



However, there were also some signs of demand switching back from services to goods. The March flash PMI saw a marked acceleration of manufacturing output growth, with the rate of increase rising to the fastest since May 2022 amid a strong rise in new orders for goods.

These are all positive indicators for selling a business, suggesting that it might be an opportune time to capitalize if you're considering an exit strategy. Industries currently in demand include plumbing, HVAC, electrical services, and industrial and manufacturing sectors.


We would love to talk to you about your exit strategy and be part of the team that executes the sale of your business!


If you're not ready to sell yet, but want to make sure your company is in the best position, we can help with that too. Once we understand your business, we can talk about your options and help you make smart decisions. Just give us a call or send us an email.

Employee Skill Sets

The better your people's skill set, the higher your company's value. Below are some tips to enhance your workforce's capabilities - Full article can be read here


In today’s post-pandemic landscape, a company’s path to success depends on the quality, adaptability and resiliency of its people. But how do you cultivate a top-notch workforce ready to meet all the challenges of our modern and dynamic workplace? Upskilling your workforce is an important place to start.


When you need additional skills in your workplace, it’s good to have a mix of external candidates so that your company can incorporate new and more diverse capabilities, experiences and perspectives. But with a competitive labor market that has complicated attracting top talent, along with rapidly rising wages and increased demands for more expansive benefits, it’s not always feasible to rely on recruiting alone to reskill or upskill your workforce.


Give us a call or email if you'd like to discuss potential options for building and hiring the right team!

CHV Group LLC| www.chvgroup.com