Rising Cost of Capital is a Threat to Construction, ABC Economist Says

By Ryan Whisner | www.equipmentworld.com Construction contractors are maintaining a strong sense of good profitability and growth in 2023 based on a current slate of seemingly full backlogs. Associated Builders and Contractors Chief Economist Anirban Basu suggested during his 2023 Q1 construction economic update and forecast that the contractors simply “can’t handle the truth,” as Jack Nicholson’s character once said in the film A Few Good Men. “The war on inflation is ongoing; it’s not yet won,” Basu said. “I think recession conditions will prevail at some point in the next 12 months. I think by the third or fourth quarter of this year, we will be in recession, you will see more deterioration in the data going forward.” READ FULL ARTICLE>>