Yogi Berra once famously said, “Nobody goes there anymore. It’s too crowded.” Berra was responding to a question about why he had not been to a favorite, popular restaurant anymore.
In our case, we are using this bit of paradoxical humor as an introduction to our forecast, in particular, to look at the changes in retail commercial construction and the changing construction industry in general. Berra’s quote will not help us explain why our forecast for the construction industry has been lowered 1 percent compared with last quarter’s outlook forecast. For that answer, we will try to explain below. If there is one overarching theme to the global economy, someone is lying to you. Better to listen to another famous quotable major league manager, Casey Stengel, who said, “Never make predictions, especially about the future.”