Sixty-seven percent of U.S. businesses expect to spend more on construction in the next six months, and 72% expect to spend more on raw and processed materials (e.g., chemicals, metal, lumber), according to a recent survey from American Express1.
“This Global Business Spend Indicator survey signals that U.S. businesses are spending more on construction, likely due to a combination of factors, including today’s inflationary environment, supply chain challenges and – on a positive note – the ability to resume projects paused during the pandemic. Mirroring anticipated increased spending on construction, businesses are also spending more on raw materials,” said R.J. Ancona, VP of B2B at American Express.
