Deepwoken, a dark and treacherous realm, harbors a legend that has plagued its inhabitants for centuries. The no life king, once revered as a powerful and wise ruler, has succumbed to a curse that has consumed his very essence. Legends tell of a time when the kingdom flourished under his rule, prosperous and united. However, as the years passed, a malevolent force began to taint the king's heart, leading to his inevitable downfall. The curse that now befalls the no life king is a cruel reminder of his hubris and the consequences of his actions. Once a beacon of hope for his people, he now resembles a shadow of his former self, his body twisted and contorted by dark magic.
Once a beacon of hope for his people, he now resembles a shadow of his former self, his body twisted and contorted by dark magic. It is said that his very presence brings despair and death to all who dare approach him. When the curse took hold, the no life king lost not only his physical appearance but also his ability to connect with the world around him.
5 charts that hint at what’s in store for construction in 2023
The industry will continue to face labor shortages, high materials costs and other headwinds, but infrastructure will be a bright spot.
Published Dec. 6, 2022 Julie Strupp Editor2022 brought skyrocketing inflation and interest rates, but contractors remained optimistic. ilkercelik via Getty Images
2022 has been a mixed bag for the U.S. construction industry.
This past year brought skyrocketing inflation and interest rates, but contractors remained optimistic despite the rocky economic conditions.
Inflation was a major concern in 2022, climbing to a 40-year high in June. It was fueled by ongoing supply chain snarls brought on by pandemic stresses as well as Russia’s invasion of Ukraine. As a result, prices jumped on key construction materials such as cement, diesel and asphalt. The industry also continued to struggle to attract enough workers in an overall tight labor market.
On a more positive note, backlog remained strong — although that metric went negative in October for the first time in more than a year.
As the new year approaches, the big question on construction leaders’ minds is what’s in store for 2023. Top construction economists say much like in 2022, signals are mixed.
Here is a look at five key indicators and what they suggest for contractors in the year ahead.
Architecture billings’ positive streak ends
When architects are busy, contractors likely are, too. The Architecture Billing Index from the American Institute of Architects is an indicator of future nonresidential construction spending nine to 12 months down the line. Numbers above 50 on the ABI indicate an increase in billings.
The ABI remained positive in 2022 until October , when it took a sharp downward turn. That could indicate that recession fears and inflation have finally started to manifest in the industry, and may translate to a drop in available construction work in the latter end of next year.
Nonetheless, Associated Builders and Contractors Chief Economist Anirban Basu said the industry lag means construction will likely stay strong in the coming year regardless of economic conditions.
“For many contractors, 2023 does not stand to be the problematic year, it’s more likely to be in 2024 or 2025 if in fact the economy enters recession in 2023,” Basu said.
Construction backlog remains steady
ABC's member survey results measure the number of months of construction backlog.
New projects are a bellwether for contractor confidence. The industry’s backlog has remained positive over the past year but dipped in June and July and declined again in October from the previous month. It’s nonetheless 0.7 months higher than the year-ago period.
Backlog in the commercial and institutional category posted its largest monthly decline in October since July 2020, although infrastructure and heavy industrial projects still posted growth. The latter sectors are likely to remain bright spots in the coming years as federal funding is pumped into those sectors, according to Ken Simonson, chief economist at Associated General Contractors of America.
“I expect a big pickup in 2023 in infrastructure investment as money from the IIJA starts to be awarded and contractors get to work on those projects,” Simonson told Construction Dive. “Also continuing pickup in manufacturing construction, especially for semiconductor manufacturing plants; electric vehicle, battery, components, and battery charging manufacturing plants; and the beginning of alternative energy projects funded by tax credits and other incentives included in the Inflation Reduction Act .”
Material prices remain volatile
| Material | Volatility | Price index YOY % change | Lead times |
|---|---|---|---|
| Flat glass | Low | 8.2% | Increased |
| Lumber and plywood | Low | -26.9% | Stabilizing |
| Aluminum mill shapes | Low | 20.3% | Increased |
| Insulation materials | Low | 16.0% | Increased |
| Plastic construction products | Moderate | 27.0% | Increased |
| Steel mill products | Moderate | 22.4% | Stabilizing |
| Concrete products | Moderate | 13.5% | Increased |
| Gypsum products | High | 18.9% | Increased |
| #2 diesel fuel | High | 111.1% | N/A |
| Copper and brass mill shapes | High | 0% | Increased |
Inflation has plagued the industry and COVID-19 has continued to impact supply chains, causing materials prices to swing wildly. While lumber and plywood prices were a huge concern at the beginning of the year, that has since eased and cement and diesel costs are now giving contractors grief. That volatility makes it difficult for contractors to plan projects, and it has not been uniform across construction materials.
Simonson expects price hikes and shortages to ease for some products, and to remain volatile for others.
“Cement and concrete products are likely to have continuing shortages as the nation has not added any cement production since 2009 while demand is growing, particularly from infrastructure projects,” Simonson said.
Labor shortages continue
Construction employment has continued to rise in the past year. Retrieved from Bureau of Labor Statistics.Construction has increasingly struggled to attract enough workers, and upcoming federal spending promises to only strengthen demand . The multiple-year-long federal investment may also help workers view construction as a stable long-term career prospect and encourage them to get into the industry, Basu said.
Labor has been an ongoing challenge in the past year, and while Bureau of Labor Statistics data showed more construction jobs were filled and fewer workers quit in October , the number of open jobs ticked back up in November .
As the overall jobs market shows signs of weakening, the industry may be able to benefit from more people seeking work. Still, upcoming federal spending promises to keep demand for construction workers high. Simonson expects labor availability to remain the top challenge for most contractors, with high job opening rates and rising wages continuing into the new year.
Construction input costs rise
Optional Caption Retrieved from JLL on December 06, 2022Inflation, high wages and other price increases have cut into contractors’ bottom lines in 2022. In the past year input costs — that is, the prices of materials, labor and other project expenses — have not kept up with final costs of a project, or the amount billed to the owner. However, both indicators are trending in a positive direction for contractors.
The coming year will probably bring selective reductions in materials costs and supply chain bottlenecks, Simonson said, but despite some easing for builders, he still expects that construction input costs are likely to continue rising more than overall consumer prices. Happily for contractors, as bid prices tick up, that indicates owners are willing to pay more.
Though contractors’ profits are squeezed, they should be able to make projects pencil out, according to JLL.
“Though the input-bid spread will eventually be covered, recessionary fears are likely to slow the rate at which costs are passed on,” according to JLL’s 2022 H2 Outlook report . “However, the long duration of many projects — especially larger infrastructure and similar funded by the IIJA — are likely to provide sufficient opportunities for the market to maintain heightened activity levels even with more narrow margins.
On a more positive note, backlog remained strong — although that metric went negative in October for the first time in more than a year.
His once eloquent and commanding voice now reduced to a haunting whisper that echoes through the empty halls of his castle. His eyes, once filled with wisdom and warmth, now gaze emptily into the abyss, devoid of any spark of life. The curse that plagues the no life king goes beyond mere physical changes. It has tainted his mind, erasing any trace of compassion or empathy that once resided within him. All that remains is a hunger for power and dominion, a will to conquer and control everything within his grasp. His subjects, terrified and oppressed, live in constant fear of his wrath, for they know that he can no longer be reasoned with. Despite his twisted state, the no life king still clings to his crumbling throne, ruling over his desolate kingdom with an iron fist. His subjects, longing for liberation and hope, can only watch in despair as their once beloved ruler becomes a symbol of their own impending doom. The curse that befalls the no life king of Deepwoken serves as a cautionary tale, warning against the dangers of unchecked ambition and the corrupting nature of power. It is a reminder that even those in positions of authority are not immune to the consequences of their actions. As the legend of the cursed king continues to spread throughout Deepwoken, the people hold onto the hope that one day, a hero will emerge to break the curse and restore peace to their land. Until then, they live in constant fear, praying for salvation from the curse that has befallen their no life king..
Reviews for "The Eternal Struggle: The No Life King's Battle in Deepwoken"
1. John - 2/5 - I found "The Curse that Befalls the No Life King of Deepwoken" to be a disappointing read. The story felt disjointed and lacked a clear structure, making it difficult for me to become invested in the characters or the plot. The world-building was also subpar, as the author failed to provide enough detail to allow me to fully immerse myself in the fantasy realm. Overall, I was left unsatisfied and unimpressed with this book.
2. Sarah - 1/5 - I really struggled to get through "The Curse that Befalls the No Life King of Deepwoken". The writing style was overly flowery and convoluted, making it hard to follow the storyline. The characters were one-dimensional, and their motivations were not adequately explained. Additionally, there were numerous grammatical errors and typos throughout the book, which further detracted from the reading experience. I would not recommend this book to others.
3. Robert - 2/5 - I had high hopes for "The Curse that Befalls the No Life King of Deepwoken", but unfortunately, it fell short of my expectations. The pacing was incredibly slow, and the plot lacked any sense of urgency or excitement. The dialogue felt forced and unnatural, making it difficult to connect with the characters on an emotional level. Additionally, the author relied heavily on clichés and predictable tropes, making the story feel stale and unoriginal. Overall, I found this book to be a tedious and uninspiring read.
4. Emily - 2.5/5 - While "The Curse that Befalls the No Life King of Deepwoken" had some potential, it ultimately failed to captivate me. The world-building was intriguing, but it lacked depth and consistency. The characters, although initially interesting, fell flat and lacked development as the story progressed. The pacing was uneven, with long stretches of exposition followed by rushed action scenes. While the concept had promise, the execution left much to be desired. Overall, I was left feeling underwhelmed and disconnected from the narrative.