Associated Builders and Contractors (ABC) predicts a continued steady recovery in commercial construction, with growth in 2016 to equal approximately the same rate as it did in 2015. The non-residential construction market it expected to increase nation-wide by 7.4%, with the lodging and office space segments experiencing the largest growth again this year.
Attributing factors to this positive forecast includes falling construction material prices in the last quarter 2015 and a recent growth in the employment. Lower construction material prices are likely to continue in 2016 due to a combination of factors including a stronger US dollar, weaker economic performance with emerging foreign markets such as China, Russia, and Brazil, and continued high oil and gas surplus.
For more information, visit www.abc.org.