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As the world continues its widespread vaccination effort, COVID-19 restrictions ease somewhat and the $1-trillion U.S. infrastructure spending package moves forward, forecasters express cautious optimism about the year to come.
Total construction starts are set to rise 6% in 2022, down from 12% this year, with warehouse and residential sectors continuing to lead the recovery, says Dodge Construction Network.
Following a period of strong recovery, construction activity has begun to cool, largely due to emerging COVID-19 variants, high materials prices, a worker shortage and other challenges.