b'THE OFFICIAL NFBA MAGAZINECONSTRUCTION FORECAST 2024NAVIGATING A TRICKY ECONOMIC TERRAINECONOMIC UPDATEFasten your seat belts and enjoy the ride. Like airline travelers bracing for expected turbulence, the construction industry is preparing for a tricky operating environment in 2024. On the upside, the economy will continue to grow, although at a slower pace. Consumers and businesses are both feeling fairly optimistic, unemployment remains low, capital investments are plugging along at a healthy pace, supply chains are improving, and the all-important housing market is burgeoning.By: Phillip M. PerryT hrowing cold water on the good times,Thats slower than the 2.1% increasebusiness though, is a significant downer that no oneexpectedwhen2023numbersare can control: Higher interest rates establishedfinally tallied, and below the 2.0%-by the Federal Reserve to control inflation are putting3.0%consideredemblematicofnormal a damper on business activity. Economists are takinggrowth. (Gross Domestic Product, the total value note by lowering expectations for the next 12 months.ofthenationsgoodsandservices,isthemost WeexpectrealGDPtogrow1.4%in2024,commonlyacceptedmeasurementofeconomic saidBernardYaros,Jr.,AssistantDirectorandgrowth.RealGDPadjustsforinflation.)EconomistatMoodysAnalytics(economy.com).Slowingeconomicactivitywillaffectthe 30 / FRAME BUILDER - NOV2023'