Test 1By Integrity Windows and Doors
2015 began with adverse weather conditions, which stilted both design and construction. As the year continued, production rapidly increased. The AIA reported that greatest amount of activity was seen in the building of commercial properties – most notably offices and hotels. But after an extremely productive 2015, what can we expect as we move further into 2016?
According to AIA’s chief economist, Kermit Baker, spending on nonresidential buildings is to reach roughly $380 billion – an 8.2 percent increase from assumed 2015 totals. The predicted growth is more significant than previous forecasts, and comes at the end of what the AIA notes as a year where the “overall construction market has performed extremely well.”
Chief economist for Dodge Data & Analytics, Robert Murray, noted that total 2015 construction activity was on pace to reach the largest gain since the economic recession during what he refers to as, “an evolving construction expansion.” Dodge Data and Analytics predicts the U.S. economy will support continued growth in the construction sector – 2016 will be a year of slow but steady expansion for the industry.