Contractors surveyed by the Associated General Contractors of America and consultant Sage have restrained expectations about the prospects for 2024, with less confidence than a year ago due to uncertain demand for some types of projects, continued high interest rates, labour shortages and high costs. “2024 offers a mixed bag for construction contractors,” said AGC CEO Stephen Sandherr during a recent webinar outlining the findings of the business outlook and hiring survey.
“On one hand, demand for many types of projects should continue to expand, and firms will continue to invest in the tools they need to be more efficient. The contractors are less enthusiastic about most market segments than they were at the start of 2023.” Contractors face “significant challenges when it comes to finding workers, coping with rising costs and weathering the impacts of higher interest rates,” Sandherr adde