FMI: Construction ‘Put In Place’ to grow 8% in 2015

Total construction put in place for 2015 is predicted to grow 8 percent according to the latest report from FMI. This supports earlier FMI predictions that CPIP will top $1 trillion in 2015, something the market has not seen since 2008. This indicates that the economy is on track for a resilient recovery. Geographically, larger cities are experiencing strong construction growth due in part to increases in rents and declining inventory for housing and office space. The sectors expected to experience the highest growth rate are: lodging (16 percent CPIP growth); commercial (15 percent); manufacturing (11 percent); office (11 percent); and residential (9 percent). To download a copy of the report, visit www.fminet.com.