Construction starts forecast to climb 9% during 2015
If you need any more evidence that the U.S. economy is gaining momentum and that its recovery is durable, look no further than construction statistics.
Flash back to the nightmarish 2009, when free-falling construction numbers posted a negative 24 percent, plunging to $426 billion in total spending. Since then, the construction business has posted five consecutive years of growth, albeit piddling growth during 2010 and 2011. Things busted loose in 2012 and 2013, when construction starts expanded by 10 percent and 9 percent, respectively, to $490 billion and $535 billion. Things cooled to a 5 percent growth rate during 2014, but the 2015 Dodge Construction Outlook says near double-digit growth will return this year with an estimated 9 percent growth, or $612 billion in new construction.
“The stage does seem set for a more sustained economic expansion to finally take hold, which would benefit the construction upturn that’s been under way since