The chief economist for the Associated Builders and Contractors trade association struck a largely downbeat tone when it came to the U.S. economic outlook during a Wednesday presentation. “By and large this economy has been growing. But in 2023, my prediction will be very different: We’re headed for a recession next year,” said Anirban Basu, chairman and CEO of Baltimore-based Sage Policy Group, in a keynote address during Adams Brown’s inaugural construction forum at The Hudson. As for the depth of the forecasted downturn, Basu, who also serves as chief economic advisor to the Construction Financial Management Association, stressed it should be nothing like the Great Recession caused by 2007-08’s financial crisis, but he expects a “moderately-deep recession.”
Source: Wichita Business Journal
