The New Year is fast approaching and economists and construction firms alike are looking forward to see what kind of opportunities 2018 will hold. The 2018 Construction Industry Outlook by Dodge Data and Analytics released this morning predicts builders will see moderate growth at just 3 percent over the previous year for a total of $765 billion.
The AIA agrees. Data crunchers at the American Institute of Architects compiled 2018 forecasts from Dodge, IHS, Moody’s and ConstructConnect, to name a few. Together, the industry experts are in consensus that non-residential construction will expand between 3.5 and 4.8 percent, depending on the specific construction segment, in the next year.
While conservative, the promise of another year of growth is still a welcomed change versus the massive decline and resulting recessing a decade ago. The complete report from Dodge can be found here.