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FMI forecasts residential and nonresidential building growth to continue as it has for since 2013 through 2019, accelerating total US construction spending growth in 2016 to 7%. Strength in manufacturing (+18%), lodging (+15%) and office (+15%) construction, along with steady residential growth, is expected to lead 2015’s 7% spending increase.
Construction activities are expected to pick up for the remainder of the year, bringing the forecast for growth upward to 6% for 2015, from the previous forecast of 5% in Q2, according to the Q3 FMI Construction Outlook.
The Q3 FMI Construction Outlook forecasts growth for 17 sectors, across residential, non-residential and non-building groups. Manufacturing continues to be the fastest-growing construction sector this year at 18%.
Other strong markets forecasted double-digit growth include:
The post FMI Increases 2015 Construction Growth Forecast to 6% appeared first on Synergen Consulting International.
