Gross Mendelsohn just completed their 2018 Maryland Construction Industry Survey, which revealed a high level of optimism among contractors. While a positive outlook is reassuring for those working in the industry, the stock market could be foreshadowing something a little different.
Should Contractors Be Bracing for a Slow Down?
Although the vast majority of contractors remain optimistic, the number of contractors who reported being more optimistic for the current year compared to previous year dropped from 78% in 2017 to 70% in 2018. Similarly, as we reported in our Investment Outlook: Is the Stock Market Peaking, the economy is also projected to slow down in 2018.
What Does This Mean for the Construction Industry?
While construction spending is expected remain strong through 2018, the amount of growth is projected to be more subdued. To learn more, check out our full article, Construction Industry Outlook Might Not Be As Rosy As Contractors Think, on Gross Mendelsohn’s blog.
Does Your Construction Company Need Help?
If you have any questions, our team of construction and real estate industry CPAs and investment advisors can assist you in developing a comprehensive financial roadmap that will help you reach your business goals.
Contact us online or call 410.865.9685 for help.