SMU Steel Summit: Simonson Expects More Volatility in Construction

The shortage of qualified workers and supply chain disruptions continue to be a drag on the U.S. construction sector, said economist Ken Simonson, who predicted continued volatility for nonresidential building in the year ahead.

Speaking to the crowd of steel executives at SMU’s Steel Summit Tuesday in Atlanta, the Associated General Contractors of America’s chief economist said the construction outlook remains transitory. Shortages of construction materials should improve slowly. Nevertheless, the largest issues impacting the construction sector which relate directly to bottlenecks on transport and delivery, should continue to constrain the construction industry for the balance of the year.