Branch maintains a slowdown is to be expected, especially as the Federal Reserve continues to hike up interest rates. Still, he added the damage should be isolated to a few verticals and not as widespread as what the industry experienced during the period of 2007-2009.
“As some material prices head lower and more public dollars come into the market for infrastructure and manufacturing projects, the year is ending with a fair bit of momentum,” said Branch. “Next year will be a challenge, but nothing like what the sector faced during the Great Recession.”
