Total construction is predicted to grow 9 percent for the year (Photo by Justin Sullivan/Getty Images)

Total construction is predicted to grow 9 percent for the year

Construction Set to See Growth in 2015

Construction looks to be in a good place for 2015, according to a recent report from FMI.

Total construction is predicted to grow 9 percent for the year, with construction put in place to top $1 trillion. This has not been done since 2008, according to FMI.

"The current growth cycle appears to be broad-based and sustainable," says Randy Giggard, managing director of research services for FMI. "Most of the new construction activity is in the private sector. Projects dependent on government spending, especially those involving infrastructure, continue to be at the mercy of politics."

Geographically, larger cities are experiencing strong construction growth due in part to increases in rents and declining inventory for housing and office space.

Visit FMI’s website to read more about these numbers. Do you expect construction to grow further in 2015? Let us know.

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