Construction Industry 2021 Market Update

The rate environment is still firming for contractors. However, the acceleration of rate increases is starting to slow on a relative basis. We believe the recent pickup in construction activity will add more rate pressure due to the uptick in revenues, payrolls, and vehicles on the road. Headwinds persist for construction leaders around labor and material shortages, causing construction firms to evaluate emerging risk management strategies to control risk and contain expenses.

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This material has been prepared for informational purposes only and was generated from information provided to BKS from the client and/or third-party sources. Therefore, BKS makes no warranty or representation(s) as to the accuracy or appropriateness of the data and/or the analysis herein. This information is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your tax, legal and accounting advisors for those services.

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