U.S. Construction Starts Had Three Consecutive Quarters of Positive Growth in 2017

The Forecast Quarterly Report combines ConstructConnect’s proprietary data with macroeconomic factors and Oxford Economics econometric expertise

Out to 2021, residential will be the main driver of total construction starts, recording year-over-year increases of nearly +6.0% or more.

ConstructConnect, a leading provider of construction information and technology solutions in North America, announced today the release of its Q4 2017 Forecast Quarterly Report. The Winter 2017-18 starts forecast includes year-over-year estimates for 2017 that have become more upbeat than a quarter ago. Groundbreakings on several mega projects late this year have provided exceptional lift to the industrial and engineering type-of-structure categories.

“Out to 2021, residential will be the main driver of total construction starts, recording year-over-year increases of nearly +6.0% or more,” explained Chief Economist Alex Carrick. “Non-residential building will disappoint, with gains of only about +2.0% each year. Engineering will be strong in 2018 and 2019, as energy initiatives and infrastructure work are promoted by Washington, but will then moderate in 2020-21.”

The forecast which combines ConstructConnect’s proprietary data with macroeconomic factors and Oxford Economics econometric expertise, shows some of the more robust 2018 starts forecasts:

  • Single-family residential, +8.8%
  • Warehouses, +4.7%
  • Nursing homes, +5.9%
  • Educational facilities, +4.2%
  • Roads, +5.9%
  • Bridges, +10.2%
  • Miscellaneous civil (power, oil and gas), +13.8%

2017 total starts are now expected to be +7.9% (versus an earlier calculated +4.5%). Residential has been upgraded to +10.1% and engineering/civil to +23.1%. Non-residential building has…

Read the full article from the Source…

Leave a Reply

Your email address will not be published. Required fields are marked *