ABC predicts that segments experiencing the largest growth in commercial construction spending in 2015 will include lodging and office space. The forecast for nonresidential construction spending is expected to expand by roughly 7.5 percent next year.
Additionally, while material price inflation has been suppressed, it may accelerate in 2015. Last year, prices were suppressed due to a combination of factors, such as softer growth in most of Europe and Asia, rising energy production here in the U.S., and a stronger dollar. Some of these factors might not be as prominent next year, so the stage could be set for price increases close to 3 percent.
For more information, visit www.abc.org.
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