After two years of pandemic-related fits and starts, builders are set for a busy spring.
Construction and engineering spending reached $1.57 trillion in July 2021, according to Deloitte, and revenue growth will likely accelerate in 2022. In a survey of over 500 U.S. executives and other senior leaders in the field, Deloitte also found that 92% characterize their business outlook as somewhat or very positive, 23% higher than the previous year.
But this spring isn’t all roses and sunshine. Supply chain constraints and rising costs, in some cases exacerbated by pent-up COVID demand, are making sourcing materials and sticking to budgets more difficult.