I'ts going to be a year of continued recovery, according to a recently released forecast from Associated Builders and Contractors, a national trade association. According to a press release from the organization:
“ABC forecasts nonresidential construction spending will expand by roughly 7.5 percent 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,” Basu warned. “However, this fits a multi-year pattern with private nonresidential spending exceeding public nonresidential spending by 28 percent in 2014, up from 15.6 percent in 2013.