Construction Firms Look to Public Sector Demand as Outlook for Private-Sector Projects Dims In 2023
New industry outlook survey shows contractors expect infrastructure and other public-sector funding will help as growth slows for many types of private construction, but labor shortages and supply chain issues persist
“Contractors are optimistic about the construction outlook for 2023, yet they are expecting very different market conditions for the coming year than what they experienced last year,” said Stephen E. Sandherr, the association's chief executive officer. “Even as market demand evolves, contractors will continue to be confronted by many of the challenges they faced in 2022, including the impacts of supply chain problems and labor shortages.”