Report: Construction Will Continue to Grow in 2016 at a Slower Pace

Education, industrial, commercial and retail sectors will be key to the continued but slower construction growth in 2016

Feb 29, 2016
“The construction industry is naturally cyclical and mirrors the effects of the stagnating global economy,” said Dana Westgren, Research Analyst, Project and Development Services, JLL Americas. “The most successful projects in 2016 and beyond will find a middle ground that offsets labor shortages and rapidly increasing glass prices with lower costs of steel and other construction materials caused by a low demand overseas.”
“The construction industry is naturally cyclical and mirrors the effects of the stagnating global economy,” said Dana Westgren, Research Analyst, Project and Development Services, JLL Americas. “The most successful projects in 2016 and beyond will find a middle ground that offsets labor shortages and rapidly increasing glass prices with lower costs of steel and other construction materials caused by a low demand overseas.”

According to the latest nonresidential construction outlook from JLL, construction is slowing but continues at a strong pace. Location is a key drive in success throughout various industry sectors.

Key markets to watch include San Francisco/Silicon Valley, the southeast and Houston. JLL also says the education, industrial and commercial sectors will be ones to watch. In addition, a push for new build outs in the retail sector will continue throughout 2016.

(more on JLL's latest nonresidential construction outlook for 2016...)

 

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