Increased Challenges Await Construction, Glazing Companies in 2023

No industry is immune to increased inflation, including the construction and glass industries. The glass industry saw companies increase prices and surcharges due to various economic pressures in 2022. The entire construction industry has felt the effects.

According to Steve Stouthamer, executive vice president of Skanska, one of the country’s largest general contracting firms, while 2023 could be the year where recessionary indicators dampen the double-digit annual construction inflation trend, challenges remain in local markets throughout the U.S. In fact, several cities and regions are expected to see construction costs rising above the rate of inflation over the next year.