Construction Economists Make Positive Predictions

Construction Economists Make Positive Predictions

Happy Friday! In the spirit of Summer Fridays we have some good news. Anirban Basum, chief economist of the Associated Builders and Contractors (ABC) , Chief Economist Kermit Baker of the American Institute of Architects (AIA) and David Crowe the economist of the National Association of Home Builders (NAHB) put together some optimistic predictions using various economic indicators…

“A combination of low interest rates; wealth effects stemming from a booming stock market and rising home prices; surging energy production; and expanding industrial output has helped position the U.S. economy for more rapid growth during the next several quarters,” said ABC Chief Economist Anirban Basu. “This will lead to more robust recovery in the U.S. nonresidential construction industry, which has also been aided by stable materials prices and improving commercial real estate fundamentals. ABC predicts 7 percent nominal nonresidential construction growth in 2014, despite ongoing challenges in the public construction segment.”

“We continue to have an optimistic outlook for the commercial and industrial sectors for the rest of this year and into 2015,” said AIA Chief Economist Kermit Baker, PhD, Hon. AIA.”

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