The Delta variant of Covid-19 is a cloud over prospects for the construction industry in 2022 from but without it would likely be a booming economy, cautioned Anirban Basu, chief construction economist for Marcum, a national accounting and advisory services firm.
Basu also sees inflation as a risk: "Elevated inflation is likely to persist into 2022 as global suppliers continue to struggle to keep up with elevated demand for goods and services. Accordingly, contractors should assiduously work contingencies into their contracts to protect themselves from additional materials' price spikes."
The newly released Marcum Commercial Construction Index for the second quarter of 2021 reports that the construction industry has lagged the broader rate of economic recovery with residential construction outpacing nonresidential.
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