“December starts revealed where the current strength in construction lies: manufacturing and infrastructure,” said Richard Branch, chief economist at Dodge, in a press release. “It is those segments that will provide insulation for the sector as the economy softens in 2023.”
Branch said that he expects higher interest rates to weigh on the economy and restrain construction starts in 2023, but “it’s encouraging to know that the new year is starting with a great deal of positive momentum.”
