Marcum Survey: Construction Contractors Remain Optimistic
Construction contractors remain cautiously optimistic a year after the industry’s post-pandemic comeback gained traction, according to the 2022 Marcum National Construction Survey. Contractors surveyed by Marcum LLP reported being buoyed by the federal infrastructure bill, growing backlogs and other tailwinds.
Among this year’s key findings, nearly 60% of respondents said they expect more opportunity in the future, up from 54% in 2021. Sixty-nine percent expect the Infrastructure Investment and Jobs Act to have a positive financial impact for their businesses.
The industry’s upbeat outlook is also supported by a significant increase in backlogs, with 48% of respondents (up from 29% in 2021) reporting higher backlogs than last year.
“Broadly speaking, the construction industry is finally returning to pre-pandemic levels of activity but is still being hampered by three familiar challenges – labor shortages, material costs and availability, and supply chain issues,” said Roger Gingerich, who leads Marcum’s Midwest construction practice.
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