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Inflation, rising interest rates and a skilled labor shortage continue as negative economic factors heading into the second quarter, said Anirban Basu, chief economist at the Associated Builders and Contractors.
Pact details not disclosed in dispute over GE Haliade-X offshore wind turbine design, leaving unclear the status of a court-mandated ban on U.S. sales.
New York will receive the largest allocation of the new Clean Water SRF money from the omnibus spending measure, with $83.6 million, with California's $54.2-million allotment ranking second.
With the economy so far navigating through recession risks, ENR’s Construction Industry Confidence Index shot up 11 points this quarter to a cautiously pessimistic 44 rating, with 68% of survey respondents seeing the current market as either stable or improving, up from 62.7% last quarter.
Recession fears continue to loom as the first quarter comes to a close. Inflation remains an ongoing issue, while recent failures in the banking sector pose additional threats.
Representatives of major construction and transportation groups say that highway and transit funds from the Infrastructure Investment and Jobs Act continue to move out, financing active projects around the country at a solid pace.
The California High-Speed Rail Authority has approved more than 1,100 change orders since work on the portion currently under construction began creating rising costs.