ABC Projects Continued Growth for Construction Sector in 2015
WASHINGTON, D.C. — Associated Builders and Contractors (ABC) forecasts a steady and ongoing economic recovery for the U.S. commercial and industrial construction industries in 2015. The reasonably brisk industry recovery in 2014 should continue in 2015, with momentum especially growing in segments closely related to the current American energy and industrial production resurgence.
“ABC forecasts non-residential construction spending will expand by roughly 7.5% next year,” said ABC Chief Economist Anirban Basu. “The segments that will experience the largest growth in construction spending in 2015 include power (e.g. natural-gas-related construction), lodging (leisure and business spending), office space (professional-services employment creation), and manufacturing (rebounding industrial production). The public sector will see far more sluggish growth in construction spending; however, this fits a multi-year pattern with private non-residential spending exceeding public non-residential spending by 28% in 2014, up from 15.6% in 2013.”