“Contractors remain upbeat about the available dollar values of projects to bid on in 2023,” Gilbert says. “There is obviously a lot of optimism within the infrastructure segments of the industry due to the federal IIAJ funding available to states. However, they are slightly less optimistic about many private-sector segments than they were last year. Higher interest rates [and] evolving work and shopping patterns are impacting the outlook for office, retail, hospitality and multifamily residential,” he adds.