U.S. Grand Total Construction Starts Growth Projection Revised Slightly Downward
ConstructConnect announced the release of its Q3 2017 Forecast Quarterly Report. The U.S. grand total construction starts growth projection for 2017 over 2016 in ConstructConnect’s Q3 report has been revised down slightly to +4.5 percent from +4.8 percent. 2018 remains about the same at +5.9 percent year over year (y/y). Earlier, it had been estimated at +6.0 percent.
“The outlook for U.S. construction starts, as calculated by ConstructConnect, has diminished slightly in the short term,” said Chief Economist Alex Carrick. “Prospects for some private sector project initiations (e.g., in retail) have stalled, while high hopes for an early launch of a much-needed super-infrastructure program, to be sponsored, promoted and perhaps largely financed by the new administration in Washington, have been deflated.”