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.