ABC Predicts Stable Nonresidential Construction Sector for Remainder of Year
WASHINGTON— Associated Builders and Contractors (ABC) Chief Economist Anirban Basu predicts the nonresidential construction sector will remain stable for the second half of 2018, yet warns of a potential economic downturn in 2020, according to a recent mid-year economic outlook published in Construction Executive magazine.
While the strong U.S. economy contributed to a positive forecast, a rapid rise in interest rates and materials prices could cause a dip in construction sector spending, especially given ongoing international trade issues.