For the first time since 2008, total construction put in place in the United States will top $1 trillion in 2015, according to a report from engineering and construction industry consulting firm FMI.
Total construction put in place for 2015 is predicted to grow 8 percent according to the report, indicating the economy is on track for a resilient recovery and the $1 trillion prediction.
“The current growth cycle appears to be broad-based and sustainable,” says Randy Giggard, managing director of research services for FMI. “Most of the new construction activity is in the private sector. Projects dependent on government spending, especially those involving infrastructure, continue to be at the mercy of politics.”
The full report can be downloaded here.
