Report | United States Construction Perspective - Q4 2015
Post-recession construction activity was high in 2015, with office space under construction peaking at 92.8 m.s.f. Construction costs are up in primary markets due to rising wages, while materials prices remain relatively low in the short term. Construction will continue its growth trajectory, but it will slow along with economic growth nationwide. Three trends are leading to a softer 2016: The upcoming election's effect on consumer behavior, the Fed increasing interest rates and a labor shortage of trained construction employees, especially in trade positions. However, demand from downstream markets will bolster the industry and construction profit margins will continue to rise, keeping construction growing at a faster rate than the overall economy.
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