General optimism within the construction sector has continued
to rise over the course of this year and it is widely anticipated that
construction starts in 2015 will rise approximately 10%, almost double the
estimated growth rate of 2014.
Improved construction financing combined with a re-focus
on construction investment and stronger commercial building and residential
markets are some of the economic drivers that are contributing to the continued
growth within the industry as a whole.
Commercial and institutional buildings, single and multi-family
housing, industrial and manufacturing will most likely experience the largest
growth over the next twelve months with public infrastructure work experiencing
a more modest gain.
As the growth continues into next year and beyond, it
will press the need for construction labor, materials, equipment and
professionals which, in turn, will further fuel rising construction costs.
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