The overall U.S. economy will most likely enter recession in the coming months, with nonresidential construction beginning to feel the effects in late 2024, says Connor Lokar, senior forecaster, ITR Economics prospects of the United States construction market. Lokar anticipates the recession will be mild but will demand that companies plan for a downturn to ensure their companies are protected and to even find opportunity during the slower business cycle. “This is not going to be as bad as 2008 or 2009. The businesses that will get into trouble are those that don’t plan for it,” he says.  An economic slowdown will provide some relief for companies when it comes to the three top pain points of the pandemic and post-pandemic era: supply chain problems, inflation and labor shortages.  “This deceleration and ultimate recession is going to take pressure off all of those,” says Lokar. “Your workforce issues won’t be fixed, but they will be easier to manage. Inflation is not fixed, but it’s coming down. And the supply chain has gotten better.” Lokar adds that a slowdown will give the construction industry its first “breather” since prior to the pandemic. “You’ll have an opportunity to get the house in order. You’ve spent 3 to 3.5 years surviving the pandemic, with unprecedented supply chain issues, inflation pressures and turnover. You’re going to be able to breathe.” For businesses that plan ahead, slowdowns can be opportunities for investment and preparation for future growth, Lokar says. “Think about everything you’ve said no to over the past two or three years. That’s what you can bring back to the front burner. Take on the big things, like an internal software transition, training or investing in your business.”  Concerns that the United States soon may be facing a recession have surfaced in recent days in part due to a jump in the national unemployment rate.