Construction Momentum Expected to Persist Despite Headwinds
Construction momentum will persist for several more quarters, but contractors should remain vigilant as longer term inflationary measures build. That from noted industry economist Anirban Basau for Construction Executives. Basau notes the brilliance of the nation's economic performance but points out the hardening of issues around tariffs and immigration policy.
Basau notes the strength of the nation's labor market as there have been 11 job openings for every 10 unemployed Americans. Mr. Basau says that as of now there are few signs indicating any type of recession even considering some market volatility. Similarly, the Associated Builders and Contractors Backlog Indicator claims the amount of work under contract as yet incomplete is on the rise. Read more here