Washington, D.C. (June 14, 2018)—The foreseeable future appears bright for general contractors working in commercial and residential construction, according to a new study, 2018-2019 Vertical Market Series—Construction, released by the Equipment Leasing & Finance Foundation. The study provides an outlook on the United States construction market's confidence, anticipated spending, and key developments and trends impacting the industry over the next one to two years. It is the first release of the foundation’s new forward-looking vertical market series designed to help readers recognize and understand key trends that may affect their businesses.
The study, commissioned by the foundation and prepared by ORC International, indicates that the all-time high in construction spending in 2017 will carry through in 2018, with a predicted U.S. construction industry growth of five percent. It examines issues impacting the sector, including labor shortages, trade tariffs, corporate tax rate reductions, equipment acquisitions and technological developments.
“The new construction study is comprehensive, yet concise, making it an ideal information resource for construction industry managers and business owners,” said Tom Ware, Equipment Leasing & Finance Foundation research committee chair. “We look forward in the coming months to delivering additional vertical market studies that leverage industry research, subject matter expertise and analyses for business decision making.”
The study draws from a wide range of sources to provide an outlook for the construction sector, including construction and architectural consultancies and trade groups, published industry forecasts, media reports, and analyses.