The construction market of 2016 in the USA has seen a mixed response. There was an upheaval of opportunities in the first half of the previous year. However, the momentum that the construction industry experienced and encountered in the first half of the year 2016 gradually receded into a slow momentum in the latter half of the year. This trend will have its impact on the current year 2017.
The sectors that were into focus in the construction industry are data center building, warehouse building as well as building the hotels. Though there is not enough data on how the impact of the construction industry has been on the data centers, it can well be said that the demand will still be high. What will experience a downfall or at least a slow growth is the hotel industry. But, in some cities of the country, the warehouses will still be in demand for construction.
The Scenario in 2017:
As per the reports of Dodge Data & Analytics, the current year 2017 is going to be very promising in the construction industry. In their report, they have stated that there will be an advancement of $713 billion in the construction industry profit margin, which is about 5% increase from that of the year 2015 and the year 2016. It is also expected that though a slow growth is to be followed in the current year, the growth will be steady and hence, the profits targets are likely to be achieved.
The Impact on the commoners:
Now with this promise, it must also be mentioned that the potential consumers, who are planning to purchase new constructions, apartments and buildings in the USA, will be largely benefited by the low interest rates and mortgage rates. Even there is going to be an increase in the units of single family housing in the USA, which is great news for the potential buyers.
Even the commercial building construction is also going to encounter an increase than the previous years. This will certainly have a great impact on the employment sector. Not only will the construction industry open up new opportunities for the employment, but the commercial buildings that are being made, will open more avenues of employment.
What will be in demand?
As the construction market in USA in the year 2017 is going to encounter an increase, there is a high demand for construction material, employees and workers as well as the heavy construction equipment. Hence, those, who are working in the construction equipment manufacturing companies, will indirectly be benefited greatly. Even the small scale dealers will also be benefited by supplying brand new as well as used heavy construction equipment. Workers, heavy construction equipment operators as well as other professionals will also be benefited with this increase.
If you are planning to have a career in this field, it is a great time to stat. Just choose the right field for you such as operating the heavy construction equipment, engineering or working as a labor in the construction job sites, the options are many.
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