A possible recession looms large, even as contractors continue to report increases in business, said Anirban Basu, chief economist at Associated Builders and Contractors.
“Many contractors tell me they’re operating at full capacity, have never been busier,” said Basu. “What I conclude is, many [contractors] are gaining market share.” He suggested some contractors have gone out of business, or others have less bidding capacity. “But when you add up the numbers, you don’t see a lot of spending growth in this country.”