For all those calling for the collapse of America due to wedge issue politics here is a bright spot. Despite all the noise America keeps building!
The U.S. construction industry has faced its share of challenges in recent years.
Construction costs still sit close to 40% higher than in February 2020, before the onset of the COVID-19 pandemic. Meanwhile, labor shortages continue to negatively impact construction momentum, according to a recent Associated General Contractors of America report.
In addition, Associated Builders and Contractors’ Construction Confidence Index shows many U.S. contractors now expect profit margins to shrink over the next six months.
But despite these headwinds, the U.S. construction sector continues to show remarkable resilience when compared to the rest of the world.
A lot of this construction is government funded but it highlights the troubles the rest of the world is having with labor and material prices for construction.