The construction market seems to be holding strong—for now, as ABC Chief Economist Anirban Basu reported in “Construction Executive’s 2023 Q3 Economic Update and Forecast” on Sept. 27. But while America has yet to see the predicted recession—certainly something to celebrate—there are still reasons to remain wary.

"In many ways, the economy has just not worked out the way I expected it," states Basu. "There is lots of volatility out there." Initially referencing the fluctuation in the stock market, worker strikes, possible end to the war on Ukraine and the "pivotal" federal funds target range, he dives into how all those economic factors and more have affected the construction industry.

Reprinted courtesy of Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.