Mike Trammell Offers Accounting and Advisory Firm Perspective on 2022

What are your thoughts on the economy related to construction in the Carolinas in 2022?

Based on what I am hearing, both from clients, industry friends, and construction knowledgeable economists, 2022 has the potential to look a lot like 2021.  I think that is good news for most contractors.  However, the lingering supply chain issues, labor shortage, and materials and labor inflation have to be considered. If these issues are not proactively dealt with in the estimating, negotiating, contracting, and procurement phases of contracts, the outcomes could be very different. Also, we often hear talk of “black swan” events that are outside of normal economic cycles.  As we continue to monitor the situation in Eastern Europe, we all must expect that prolonged engagement or escalation will have a negative worldwide economic impact.

Mike Trammell, Managing Partner, Spartanburg, S.C. office of Dixon Hughes Goodman (DHG) and a leader of the DHG Construction Group