Dec. 16, 2014: ABC Predicts Continued Construction Industry Growth in 2015
Rise in Backlog, Construction Employment, and Nonresidential Spending Expected
WASHINGTON — The Associated Builders and Contractors (ABC) forecasts a steady and ongoing economic recovery for the U.S. commercial and industrial construction industries in 2015. ABC said the reasonably brisk industry recovery in 2014 should continue in 2015, with momentum especially growing in segments closely related to the current American energy and industrial production resurgence.
“ABC forecasts nonresidential construction spending will expand by roughly 7.5 percent next year,” said Anirban Basu, ABC chief economist. “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).