Inflation, Labor Shortages Weigh Down Construction Industry in Third Quarter
The Marcum Commercial Construction Index for the third quarter of 2021 reports that the construction industry’s recovery slowed during the summer in the face of labor shortages and rising material prices. Nonresidential construction spending remains 10.7% below January 2020 levels but is just 1.3% lower than it was one year ago.
The index is produced by Marcum’s National Construction Services group.