The Lighting Controls Association has published a review of current construction economic indicators and the 2016 AIA Consensus Construction Forecast.
GDP ended 2015 strongly with an annual estimated growth rate of 2.4%. The overall U.S. economy continues to improve.
Positive economic conditions continue to support growth in demand for nonresidential construction. The nonresidential construction sector enjoyed double-digit growth in 2015, and strong momentum is expected to continue in 2016.
The AIA’s semi-annual Consensus Construction Forecast, a survey of the nation’s leading construction forecasters, is projecting that nonresidential construction spending will enjoy an 8.3% increase in 2016.
Check it out here.