As the world continues its widespread vaccination effort, COVID-19 restrictions ease somewhat and the $1-trillion U.S. infrastructure spending package moves forward, forecasters express cautious optimism about the year to come.
Worries over price inflation and persistent labor shortages have cooled optimism among construction execs, but overall confidence in the market remains strong.
Following a period of strong recovery, construction activity has begun to cool, largely due to emerging COVID-19 variants, high materials prices, a worker shortage and other challenges.