Construction industry professionals have slowed down with the winter months. It is the time of year to start focusing and strategically planning on how to get the most out of the opportunities in 2017. Let’s look at three trends to watch this year.
With the continued growth in the economy, nonresidential construction will continue to grow as well.
In 2017, the forecast for nonresidential construction is predicted to go up 6.5% compared to 5.6% in 2016. Although there has been continued growth in the economy, there is still a lot of uncertainty in how long it can be sustained. As stated in the new U.S. Construction Outlook Heading into 2017 from ContructConnect, this is partially due to the presidential election. Job growth is expected to go up in the
U. S., especially with the push to bring jobs back from overseas. Combine that with low-interest rates and continued population growth, the need for more construction will continue to increase.