Marcum's 2023 National Construction Survey

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marcumllp.com

IT’S NOT ALL DOOM AND GLOOM If you compare the ebullient responses from last year’s survey to the opening paragraphs of the summary this year, you might have a bit of whiplash. Despite the very real challenges presented by inflation and higher rates, no survey respondents think the sky is falling. In fact, some key indicators still show resilience in construction. Backlogs are only slightly behind their incredibly strong figures of the past couple of years, perhaps buoyed by a still-robust market in the public construction sector. Supply chains are improving and material costs are largely stabilizing – and in some cases declining. And the persistent problem of finding skilled labor shows that the underlying economy is still strong. It all makes for a deeply interesting and complex time for the industry. We hope this report provides some perspective on how others facing the same challenges are approaching and overcoming them. Please share any thoughts with us on the report if you’d like to. Here’s to another strong year for the construction industry.