Items Tagged with 'economics'

As 2023 comes to a close, experts are fairly optimistic about the economic outlook for construction in 2024, but not without some words of caution.

Inflation, rising interest rates and a skilled labor shortage continue as negative economic factors heading into the second quarter, said Anirban Basu, chief economist at the Associated Builders and Contractors.

Interest rates, labor and supply issues could push U.S. into a recession in the coming year.

Associated Builders and Contractors chief economist Anirban Basu is predicting a recession in 2023.

Higher borrowing costs, increasing market pessimism and growing recession risks are combining to slow industry hiring, says ABC economist.

Multi-family work remains strong, but construction spending is down overall as the industry looks to the second half of the year and beyond.