In the latest ConstructConnx U.S. Spotlight, according to a recent member survey by AGCCalifornia most contractors in the state feel optimistic about the construction industry’s outlook and their companies’ financial and hiring prospects in 2023.
Over 58 per cent of respondents said they expect business activity in California to be strong or moderate in 2023.And about 49 per cent are optimistic about the overall state of the California construction industry.
Nearly 58 per cent expect their 2023 revenue to increase either significantly , moderately or slightly in 2023.“A few results are trending downward,” said Tateishi. “Our members’ biggest concern in 2023 is the possibility of a recession. That’s new this year. In 2022 they weren’t worried about a recession.Tateishi says there are three main reasons why the California construction industry is optimistic.
That’s according to the results of a national survey released recently by the Associated General Contractors of America. Respondents are most optimistic about infrastructure spending. There were net positive readings of 42 per cent for both highway and bridge construction and transportation projects.There are also great expectations for power projects and health care, such as clinics, testing facilities and medical labs.
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