ConstructConnect recently published new projections of U.S. put-in-place (PIP) construction activity. Overall, the organization sees a robust future for construction activity over the next three years in both the residential and nonresidential building sectors.
The organization forecasts overall PIP construction will reach a spending level of $1.3 trillion in 2018, a 5.4% increase over 2017, and then increase 4.2%, 4%, and 4.5% in 2019, 2020, and 2021, respectively.
In the residential market, ConstructConnect forecasts spending of $563 billion in 2018, which will increase 3.5%, 3.2%, and 4.6% in 2019, 2020, and 2021, respectively. In the nonresidential market, $750 billion in 2018, which will increase 4.8%, 4.5%, and 4.4%.
Below is the topline data (numbers are in $billions). For more information and to see forecasts for vertical building categories, click here.
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