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2018 Construction Outlook Released

Jan 19, 2018

By Jeff Gavin Published In January 2018 ELECTRICAL CONTRACTOR

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Forecast: Some clouds but not overcast

The strength of civil engineering work in 2018 remains to be seen. It was healthy enough for ConstructConnect to change its 2017 construction totals from 4.5 percent to 7.8 percent.

Then, there’s the residential market led by the resurgent single-family sector. The NAHB anticipates 2019 will be a breakthrough year, putting that sector within reach of normal performance. That will lessen the sting from a multifamily sector that has peaked.

Nonresidential has its own bright spots. Education construction is getting better support with approved state and local bonds. Retail may be shaky, but online shopping continues to make gains for warehouse construction.

Areas of retraction are showing some growth, including healthcare, religious buildings and amusement. Stronger manufacturing plant construction will continue. With solid pipeline and natural gas plant construction, and positive movement out of Washington regarding infrastructure, the healthy nonbuilding sector could help 2018 surpass its total construction forecast. All in all, this is an economy that still has some spring left in its step.

Read full article on ECMag.com