Growth to Remain Modest in 2018

A dip in public works combined with a substantial decrease in utility work, weak industrial markets and slower-than-anticipated growth in residential construction all put a damper on general construction growth in 2017. The consensus among economic forecasts analyzed by ENR indicates a very modest rebound in growth in 2018. The American Road & Transportation Builders Association estimates that total spending for highway construction will fall from $60.5 billion last year to $56.7 billion in 2017, while bridge work will decline to $30.5 billion from $33.3 billion over the same period. ARTBA’s forecast calls for both markets to post a modest rebound next year, with $57.8 billion in new highway work and $31.1 billion in new bridges.

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