Industry Resilience Despite Economic Challenges: Marcum’s Q1 2023 Report Insights
The Marcum Commercial Construction Index for the first quarter of 2023 reports that the construction industry retains momentum despite still-elevated inflation and ongoing labor shortages. Despite that momentum, the combination of high interest rates and tightening credit conditions, along with a dour economic outlook, means that construction activity could slow in the latter part of 2023.
The index is produced by Marcum’s National Construction Services group.