Construction leaders can expect institutional building construction to hover around the same level of activity in 2023 as it did in 2022, said Richard Branch, chief economist at Dodge Construction Network.
Dodge forecasts institutional building starts, which include education, health care, recreation and transportation structures, to hit $171 billion in 2023, the same amount in nominal dollars as 2022. That level could have been less, but government stimulus dollars in the space should hold up institutional project starts in 2023, similar to past recessionary environments.
