Tariffs, Slowdowns, and a Recession? The Latest Economic Forecast for Builders
In a recent article published by Construction Executive on April 4, 2025, titled "Recession Has Already Begun in America: Anirban Basu on State of U.S. Construction Economy After ‘Liberation Day’ Tariffs," the publication discusses the current state of the U.S. economy and its implications for the construction industry.
The article suggests that the U.S. economy may have already begun to recede, even before the implementation of recent tariffs affecting Canada, Mexico, and other global partners.
This analysis aligns with previous forecasts by Anirban Basu, Chief Economist for Associated Builders and Contractors (ABC). In October 2024, Basu expressed surprise at the economy's resilience but maintained his prediction of an impending recession. However, by December 2024, his outlook had shifted to a more optimistic view, suggesting that a recession might be avoided.
The recent article underscores the importance for construction industry professionals to stay informed about economic trends and policy changes, as these factors can significantly impact market conditions and business operations. Adapting to these evolving circumstances is crucial for navigating potential challenges in the construction sector.