Construction has had a good run; but depending on where you sit, you may have started to see changes over the past few months. Even though some may not be positive, other niches remain relatively strong.
Construction is often at the forefront of economic downturns and upswings, which means construction business managers do not have other data sets or long lead times to consider when determining how to change their operations — whether that means pulling back on the reins or stepping on the gas. This article explores the current state of the construction industry, as well as several areas of which contractors should be aware to ensure stability during potential future downturns.
FORVIS is a proud principal partner of the Construction Financial Management Association (CFMA). This resource first appeared in its magazine, CFMA Building Profits, and was posted on forvis.com with permission. Our professionals at FORVIS are regular contributors to this publication.