Growth in nonresidential construction is projected at more than 7.4% in 2016, according to the industry trade group Associated Builders and Contractors of America.
Four key areas of growth stand out: large commercial residential buildings, infrastructure projects, renewable energy, and transformation of manufacturing or other commercial facilities into new uses.
Building industry has construction defect subrogation implications
Although commercial residential has slowed a bit from its blistering double-digit growth pace in recent years, Dodge Data & Analytics, which provides news and intelligence for the North American construction industry, still predicts a 7% increase in 2016.
Below, a summary of findings on the construction market from Associated General Contractors of America, the Bureau of Labor Statistics, and Travelers. To discuss construction defects or another matter, contact an attorney with our subrogation practice.
Used with permission from PropertyCasualty360, a resource for insurance news, industry research, compliance and legal updates, and more.
Shawn Moynihan, PropertyCasualty360 (2016, May 10). Construction Instruction: a look at the building industry. Retrieved from http://www.propertycasualty360.com/2016/05/10/construction-instruction-a-look-at-the-building-in?slreturn=1464117847