Excluding the energy industry, construction growth is forecasted to expand 6-7% according to a number of economists and industry groups. (Several massive energy projects in 2015 had 2015 new starts growing at 13%.)
For a comprehensive summary of the ENR’s Outlook 2016 we recommend this article.
The article also has a direct link to the full report. The report is a survey of economists who cover the construction industry. Here’s a brief excerpt from the article:
Construction next year will continue to be propped up by strong economic fundamentals, and the overall economy continues to register job growth, low inflation, easing money-lending standards, increased local and state funding, and relatively low long-term interest rates
PDI is an Indianapolis-based wholesale brokerage firm with a national network that includes thousands of insurance agents, brokers, architects, engineers and contractors in all 50 states. Since PDI’s beginning in 1980, we’ve handled a single line of coverage: errors & omissions (E&O) for design professionals.