US construction growth to average 6.0% annually to 2020

US construction expenditures are forecast to total US$1.5 trillion in 2020, representing annual growth of 6.0% from US$1.1 trillion in 2015. As analysed in Construction: United States, residential building construction is forecast to remain the largest major segment, outpacing nonresidential building and nonbuilding activity with annual growth of 7.7% to 2020.

Further analysis of the residential market is available in newly released Housing: United States, which forecasts US housing starts to total 1.6 million units in 2020. Growth will be fuelled by single-unit conventional housing, the largest segment representing the fastest growth, expanding 8.9% annually to 1.1 million units in 2020.

Recently published Nonresidential Building Construction: United States found that US spending on nonresidential building construction is expected to rise an average of 4.9% per year through 2020. The lodging and office market segments are projected to see the fastest growth at approximately 8.0% annually.

For broader analysis of US construction activity, Macroeconomy: United States forecasts US residential fixed investment to expand 8.3% yearly to 2020. The report also found that nonresidential fixed investment is projected to rise 4.5% per year to US$2.9 trillion in 2020.

Adapted from press release by Joseph Green

Read the article online at: https://www.worldcement.com/the-americas/27062016/us-construction-growth-average-annually-2020-400/