The U.S. architecture, engineering, and construction industry is on track to grow in 2022, thanks in large part to the massive new federal infrastructure spending recently signed into law. However, pressure from labor shortages, supply chain disruptions, and high materials prices could moderate growth.
For the U.S. architecture, engineering, and construction industry, 2022 is suddenly looking up. In mid-November President Joe Biden signed into law the Infrastructure Investment and Jobs Act (H.R. 3684), a five-year, $1.2 trillion package providing historic levels of infrastructure funding. With this, many industry observers expect an overall strong performance for much of the AEC sector in 2022. Indeed, 2022 may mark the start of several banner years, as much of the massive new federal infrastructure spending is not expected to reach markets until later this year at the earliest.
Amid the onset of a global pandemic and subsequent lockdowns in countries around the world, many sectors within the AEC industry either languished or suffered serious setbacks in 2020. Throughout 2021, labor shortages, supply chain disruptions, and high prices for many construction materials affected the entire AEC sector.
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