The first half of 2022 saw cost inflation persist at an elevated rate as strong construction demand competed with a broad range of global and local issues. Though inflation and supply chain troubles are reminiscent of 2021, the contributing material components have shifted and new supply side issues have emerged. Despite a global inability to control the wide ranging disruptions and widespread fear of a recession, the industry is only just beginning to see a modest pullback and tempering of builder confidence.
How will the industry’s existing inertia fare against changing economic outlooks and uncertainty?
JLL’s latest Construction Outlook updates cost forecasts through year’s end based on performance to date and emerging trends, as well as digging into the following questions:
- What sectors are most impacted by the pullback and which are anticipated to thrive?
- What new supply chain and cost disruptions will dictate cost increases in the second half of 2022?
- How will existing labor constraints complicate the deployment of the IIJA and new funding sources?
JLL is hosting an interactive webinar with construction, economics and research subject matter experts on Sept. 27 to discuss report findings.
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