About this series:
We’ve all seen the headlines—the economy is currently a bit of a "fixer-upper" for contractors and owners. In times like these, an executive’s real job isn't just managing the day-to-day; it’s looking over the horizon to see what’s coming before it hits the job site.
To help you do just that, we’re thrilled to introduce our monthly series “Hard Hat Economics” with Dr. Anirban Basu. As the economist for the CFMA, ABC, AGC and AIA, Dr. Basu has an extraordinary ability to decode the indicators driving our industry. More importantly, he’s one of the few people who can make a deep dive into macroeconomic data, engaging and insightful. In the months to come, Dr. Basu will dive deep into complex economic shifts and what they mean specifically for you as a construction professional.
Why are we doing this? Because we believe that while you can't control the global economy, you can control how your business responds to it. Leading contractors don't just wait for a turnaround—they use these moments to sharpen their tools and modernize their operations.
Navigating a gloomy economy
The construction industry had a rough 2025. Industrywide employment declined by 4,000 positions, construction spending fell for just the third time in the past 15 years and
