December 1, 2022
Construction Services Leader Joseph Natarelli and Chief Construction Economist Anirban Basu authored an article on the impacts of recession, for Construction Accounting & Taxation.
Construction Accounting & Taxation
By Joseph Natarelli, National Construction Industry Group Leader & Anirban Basu, Chief Construction Economist
Excerpt:
As interest rates have risen, the likelihood that certain planned projects will move into the construction phase has dissipated. Contractors have also been striving to pass along construction materials and equipment price increases to project owners. As borrowing costs rise and pessimism becomes increasingly pervasive, project owners are more likely to push back or drop their projects altogether. This means backlog can be quickly worked off as some projects are delayed or canceled and fewer new projects enter the opportunity funnel.
