Federal Reserve needs to start cutting interest rates, but that won't happen "until some point next year,” economist Anirban Basu told an industry webinar on July 26,

Inflation, rising interest rates and a skilled labor shortage continue as negative economic factors heading into the second quarter, said Anirban Basu, chief economist at the Associated Builders and Contractors.

Survey respondents reported shortages of materials including electrical steel, components and cement.

The bid atmosphere and market for contracting deteriorated as St. Louis County and the city hammered out a deal.

A slow recovery has begun following economic fallout caused by COVID-19