Growth in nonresidential construction is projected at more than 7.4% in 2016, according to the industry trade group Associated Builders and Contractors of America.
Four key areas of growth stand out: large commercial residential buildings, infrastructure projects, renewable energy, and transformation of manufacturing or other commercial facilities into new uses.
Although commercial residential has slowed a bit from its blistering double-digit growth pace in recent years, Dodge Data & Analytics, which provides news and intelligence for the North American construction industry, still predicts a 7% increase in 2016.
Below, a summary of findings on the construction market from Associated General Contractors of America, the Bureau of Labor Statistics and Travelers.
(Click image to enlarge.)
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.