By Ryan Whisner Contractors are entering 2023 with plenty of optimism as backlogs remain elevated, suggesting that despite talks of recession, they would be insulated from harm. Rather than focusing on any potential recession, most contractors are fixated on growth with anticipation of increased sales, staffing levels and profit margins over the next six months, says Associated Builders & Contractors Chief Economist Anirban Basu. “While 2023 continues to be filled with promise, contractors may soon show more concern,” he says. “Anecdotal evidence suggests that financing commercial real estate projects is more difficult, due in part to recession predictions. The general increase in the cost of capital has also jeopardized many projects, with certain contractors noticing an increase in postponements.” READ FULL ARTICLE>>
