Insights and predictions

Navigating Uncertainties: Economist Warns of Impending Recession and Construction Industry Challenges

The article we are highlighting discusses the insights and predictions shared by Associated Builders and Contractors Chief Economist Anirban Basu during the Construction Executive 2023 Mid-Year Construction Economic Update and Forecast.

A few of the key points from the article include:

  • Resilience of the U.S. Economy
  • Prediction of a Mild Recession
  • Impact of Interest Rate Hikes
  • Backlogs and Workload
  • Material Price Trends
  • Worker Shortage

Anirban Basu’s analysis indicates a sense of caution and anticipation of economic challenges in the construction industry, including a predicted mild recession and ongoing issues related to labor shortages and financing constraints.

Read the article, “Don’t Take This for Granted” – ABC Economist Warns Recession Looms, written by Jordanne Waldschmidt to learn more.

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