ally adjusted annualized basis was for declining GDP rates in both the first and second quarters of 2023 before returning to less than 1% growth in the third quarter.
One of the factors which have worsened this forecast is the economic havoc being wreaked by the war in Ukraine and the collateral effect it is having in Europe. Yet, for all the misery this war is causing, its disruption to the world presents a grand opportunity for the construction industry to play an outsized role in the conflict’s resolution, similar to how the world’s manufacturers threw themselves wholeheartedly into the fight against COVID-19.
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