As the construction industry continues to grapple with the difficulties of the last several years, some sectors have fared better than others, and experts predict there is still some time to come before these issues have been settled.
“The construction sector is running into a headwind as the weight of higher interest rates, labor shortages and tighter lending standards restrains activity,” says Richard Branch, chief economist at Dodge Construction Network. “Unfortunately, these issues are unlikely to see a quick resolution.”