Gilbane Publishes Summer 2015 Construction Economics Report

According to Gilbane Building Company’s most recent Construction Economics Report, construction spending is increasing at the fastest rate of growth since 2004-2005. The outlook is very encouraging. Expect construction spending in 2015 to finish +10% or higher than 2014, the best growth in spending since 2005. Construction spending follows new starts, and starts for the last five quarters are the five highest quarters since 3rd quarter 2008. Since it may take 20 to 30 months from the time a new project starts to experience all the spending from that project, the volume of new starts over the last five quarters show increased spending in the coming months. While starts and the resultant spending are very positive, the lack of sufficient work force may impose constraints on future growth. However, at this time, growth is expected to continue through 2016.  

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