Today's Construction Economy Report – Q2 2023

Is there a possibility of another recession coming?

By Tom Sanders

Chief Economist

Three years after policy decisions to address COVID induced a severe recession, we have recovered. The pendulum has swung 180 degrees, and we are now confronted with raging inflation and, again, real possibilities of another recession. Nonresidential construction has nicely weathered the storm as employment, spending, and wages are at all-time highs, but it seems that many of these trends are unsustainable. Our focus continues to be on the primary drivers of selling price to owners.

Download our Q2 Construction Economy Report and get all the details from MOCA Chief Economist Tom Sanders.

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Meet the author

Tom Sanders

Chief Economist

Tom Sanders is the lead economist for MOCA Systems, Inc., a leading owner’s representative firm providing program and project management services. Tom provides independent market analyses for military construction projects. He is a retired USAF Reserve Colonel with 30 years of service.