{"id":40659,"date":"2023-01-17T07:31:48","date_gmt":"2023-01-17T07:31:48","guid":{"rendered":"https:\/\/www.my-equipment.com\/blog\/?p=40659"},"modified":"2023-01-17T07:32:03","modified_gmt":"2023-01-17T07:32:03","slug":"economic-forecast-for-the-construction-industry-2023","status":"publish","type":"post","link":"https:\/\/www.my-equipment.com\/blog\/2023\/01\/economic-forecast-for-the-construction-industry-2023\/","title":{"rendered":"Economic Forecast For The Construction Industry 2023"},"content":{"rendered":"

Although we have been hearing a lot about the recession recently, the economists at the Associated General Contractors and Associated Builders and Contractors are of the opinion that The US economy will be able to avoid recession in 2023.<\/strong> According to the Dodge Data and Analytics chief economist, Richard Branch, there will be a few sectors that will feel recession whereas others would not. Contractors that are able to pivot to the sectors that experience growth will benefit from such a mixed economic forecast for 2023<\/strong>.<\/span><\/p>\n

Ken Simonson, an AGC economist, also pointed out that the continually increasing employment opportunities, state funding, and the decline in inflation are all positive signs that the construction industry will not be facing a recession. Contractors are also confident with most of them looking to hire more employees in the next six months. Surveys indicate that Five out of 10 contractors are expecting their sales to increase, whereas, only two out of 10 contractors expect their sales to decrease.<\/span><\/p>\n

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