The Marcum Commercial Construction Index for the fourth quarter of 2022 reveals that the construction industry retained momentum at year’s end despite constraints facing the industry, including labor shortages, materials costs and elevated borrowing costs. While some construction segments have fared better than others, an overheated economy and gloomy economic outlook will eventually begin to drag on the industry. Labor shortages remain the most pressing issue for the construction industry. Material prices rebounded at the start of 2023, but the moderating input price escalation observed across much of 2022 is likely here to stay. While higher interest rates have significantly diminished … Read more