Top Three Takeaways from the Q2 2023 Report:
- Strong demand for labor and long-term commitment to infrastructure investments underpins construction activity. Strong investment growth is expected across lodging, commercial, transportation, manufacturing, infrastructure, water supply, and conservation and development, nearing or exceeding 10%.
- Most commodity prices are expected to move downward through the balance of 2023 in response to improving supply chain conditions, stubbornly high interest rates, and weaker demand for goods.
- Projects continue to experience long lead times and late delivery for some major electrical and mechanical equipment. Switchgear, panelboards, switchboards, generators, chillers, and AHUs. Related electrical materials such as breakers, relays, and metal enclosures are also delayed.
