ABC, AIA and NAHB Economists Predict Industry Growth Through 2017

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WASHINGTON, D.C. – Associated Builders and Contractors’ Chief Economist Anirban Basu, American Institute of Architects’ Chief Economist Kermit Baker and National Association of Home Builders’ Chief Economist Robert Dietz predicted continued growth for the construction industry in 2017 during a recent joint economic forecast. “Nonresidential construction spending growth will continue into the next year with an estimated increase in the range of 3 to 4 percent,” said Basu. “Growth will continue to be led by privately financed projects, with commercial construction continuing to lead the way. Energy-related construction will become less of a drag in 2017, while public spending will … Read more

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Construction Growth Slowing, Not Stopping in 2016

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CHICAGO, Ill. – The copious growth of the construction industry in 2015 is fueling continued strong activity in 2016. According to JLL’s latest report on nonresidential construction activity, the rate of growth in construction is slowing—yet, starts continue at a strong pace. The catch: growth is expensive. While a welcome decline in prices for steel and some other materials is underway, high labor costs, glass prices and steep competition throughout the industry continue to prove challenging. “For financial viability, project sponsors will need to strike a balance between the lower costs for some materials, like steel, and the ever-increasing cost … Read more

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