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Company says it will need more manufacturing plants to reach targeted EV battery production capacity, as a $4-billion electric vehicle battery assembly plant is advancing in De Soto, Kan.
Pay hikes for construction staff remain at a historically high rate, even as some sectors could see a future slowdown in project starts.
Prices for used construction equipment have continued to show signs of stabilizing over the last few months, a trend also seen in other heavy equipment categories.
ENR’s Construction Industry Confidence Index fell four points this quarter, to a rating of 40. Confidence in the current construction market is virtually unchanged, but execs have become more pessimistic about the short- and medium-term future.
Despite inflation, labor shortages and other troubles plaguing the construction industry, some sectors continue to thrive, but others face difficulties as demand for growth slows.