Modest Industry Growth Anticipated for 2018

Modest Industry Growth Anticipated for 2018

February 20, 2018

Recent reports reflect that modest but continued growth in the construction industry is anticipated for 2018, although President Trump’s renewed focus on infrastructure as an executive and legislative priority this year could have greater effects on transportation, utilities and other related sectors.  Beyond that effect, commercial construction overall is anticipated to grow by single digits again this year roughly at a pace of 5-8% with focuses on light industrial and various energy sectors such as petro and natural gas production facilities and pipelines.  The healthcare industry also is expected to see higher growth this year even though large hospital projects will likely lag behind.  The Associated General Contractors of America report that construction of urgent care, rehabilitation and hospice facilities, as well as independent surgical centers, should increase.  Finally, public school construction and renovations may see a boost from increased tax base income connected with the tax reform legislation.  All in all, growth in the industry should be modest but steady throughout the year.

For more information and insights, please contact Don Rea at either 410-332-8680 or don.rea@saul.com.