Nonresidential construction spending growth estimated to increase 3-4%
WASHINGTON — Anirban Basu, chief economist, Associated Builders and Contractors (ABC); Kermit Baker, chief economist, American Institute of Architects (AIA); and Robert Dietz, chief economist, National Association of Home Builders (NAHB) recently predicted continued growth for the construction industry in 2017 during a joint economic forecast.
“Nonresidential construction spending growth will continue into the next year with an estimated 3-4 percent increase,” said Basu. “Growth will continue to be led by privately financed projects, with commercial construction continuing to lead the way. Energy-related construction will become less of a drag in 2017, while public spending will continue to be lackluster.”