While concerned about prospects for private-sector projects, a national survey says...
And Texas is teeming with activity.
“The changing outlook reflects the fact that higher interest rates and evolving work and shopping patterns are impacting office, retail, hospitality, and multifamily residential demand,” Sandherr said. “The prospect of an economy that is slowing and perhaps heading into recession has dimmed the short-term outlook for warehouses, data centers, and manufacturing plants.
“Overall, contractors in Texas are a little more upbeat than their counterparts nationally,” said Associated General Contractors Chief Economist Ken Simonson. “That probably reflects the strong population growth that we’ve seen in Texas as well as various categories of construction spending growth.” Twenty-eight percent said projects postponed or canceled last year have not been rescheduled, while 39 percent said paused projects have been rescheduled.
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