On this episode of The Construction Record Podcast™, we have highlights from ConstructConnect’s Fall 2023 Construction Economy Outlook podcast, featuring ConstructConnect chief economist Alex Carrick and senior economist Michael Guckes, American Institute of Architects chief economist Kermit Baker, Associated General Contractors of America chief economist Ken Simonson, and ConstructConnect vice-president of product strategy Claire Stubblefield.
Baker looked at leading monthly indicators, the spend on construction of buildings and gave a forecast for the coming year, and Simonson struck an optimistic note and spoke about construction employment, including a declining unemployment rate for the industry. Stubblefield explained the latest non-residential building trends and project volumes in the US and Canada using ConstructConnect research data.
Carrick said while he’s still optimistic about the state of the economy, he does see some reasons for pessimism, and Guckes talked about the Project Stress Index and highlighted labour productivity concerns and post-COVID oversupply.
If you’d like to watch the entire presentation, go to https://www.constructconnect.com/economic-resources and register to view the video and presentation deck. You can listen to The Construction Record on the Daily Commercial News and Journal of Commerce websites as well as on Apple Podcasts, Spotify and Amazon Music’s podcast section. Our previous podcast with an interview with All Nations United president Mary French is here. Thanks for listening.