4 Charts Break Down Winning,
Losing Sectors in 2024
Among many challenges, the rising cost of materials and labor hampered construction activity in 2023. Economists — worried about rampant inflation — even labeled some building sectors as “recessionary.”
In response, the Federal Reserve raised its benchmark interest rate four times. While those hikes effectively brought inflation down from its peak, heightened lending standards and subsequent issues with financing on construction projects worsened as the year progressed.
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