Construction Outlook 2023: Smart Management Will Help Counter Profit Squeeze

By Sean Clements Contractors that invest in the future, and keep a firm hand on the various risks that keep pressure on the construction industry, will be in the best position to weather the continuing business and economic uncertainties in 2023. Supply of materials and skilled workers are still under pressure, and more expensive, too, with inflation. Fears of a looming recession are a major damper, especially when combined with interest rate hikes that are driving up the cost of borrowing. Add spiking insurance rates to the mix, and it’s causing many projects to be put on hold or canceled … Read more

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