Construction activity has remained fairly strong in the fourth quarter of the year, despite continued challenges with inflation, labor and the supply chain.
“The construction sector is ending 2022 with a lot of positive momentum. Manufacturing, infrastructure, multifamily, and commercial and institutional starts have all been robust, more than offsetting the pullback in single family starts,” says Richard Branch, chief economist at Dodge Construction Network. Through the first 11 months of the year, Dodge reports that total construction starts are 14% higher than in the same period of 2021.