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construction market report 2022

Q3 2022 Construction Input Pricing and Market Update Report

After a robust 2021, the United States economy experienced a deceleration in growth in the first few quarters of 2022. GDP fell in both the first and second quarters of 2022, shifting the economic conversation from inflation to the impending recession. While the Federal Reserve tightened policies to try and combat high inflation, their plan was thwarted, resulting in a consumer price index that continued to climb to the highest levels since November 1981.

HITT Contracting’s experts carefully monitor the impacts of these volatile conditions on our economy and our access to supplies, materials pricing, and schedules. Equipping you with these insights is our dedicated research and development (R&D) team, which has gathered relevant data and information to provide you with a deep dive into the current state of the economy and supply chain.

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