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North America Construction Outlook: Politics and policy rates test the sector’s resilience
After weathering the 2023 banking stresses and ongoing high interest rate environment, 2024 and beyond is likely to be more challenging. Financing conditions remain restrictive, and political uncertainty is on the rise with US and Mexican Presidential elections. High government deficits further limit the scope for support for the sector. Construction outperformed expectations in 2023 Given the backdrop of high interest rates, tight credit availability and worries about a potential financing crunch in the wake of US banking failures in March of last year, the North American construction sector performed well in 2023. ... (full story)