The year 2016 is almost at its end and business honchos across various industries are trying to find out how the year 2016 was for them. This year may have been great for few industries and for the rest not that great. So since this year is about to end market pundits are busy contemplating how the year 2017 will be for them and what it will bring along with it. As far as the construction industry is concerned it was a busy year for this industry and is also expected to continue its legacy in the forthcoming year. Construction industry across various sectors has seen phenomenal growth in the past year particularly the commercial construction sectors which is considered to be in the most profitable zone and is also expected to growth at the rate of 6 percent per annum.
Well there are some industry experts who feel otherwise and they predict a slight fall in the commercial construction sector but will remain steady. So we will not have to fear about any job cuts and things like that. They also believe that the institutional sectors will fare better than last year. These estimates are coming from experts who have been studying the market for years and on the basis of some research they put their rationale. It is not always that they have to be correct with what they say about the market but construction industry far and wide likes to go with their study and follow their suggestions. The year 2015 was an excellent one as far as the US market is concerned. The demand of hotels, amusement parks, commercial spaces and stuff has only increased its demand further. This demand is not going to die down anytime soon and therefore we can expect a bright 2017.
More so, after Donald Trump becoming the President of the United States, the chances of the growth of the construction industry has grown to be brighter. Many believe that since the President has its hand in the real estate business, he will probably not let it go down by any means. Keeping the influence of politicians in the construction industry aside, there are still number of reasons why one should believe that the year 2017 will be a better one for newcomers as well as for the ones who have been in this industry for years. According to Dodge Data and Analytics it is presumed that the overall industry will grow from 5% to 713 billion dollar which will be an overall gain of 11%as compared to 2015 and 2% as compared to 2016.
It was the statistics of Dodge Data and Analytics that had also forecasted for 2016 and said the beginning will be a bit sluggish followed by a rise in the sector post the mid of 2016. Things were more or less correct as per their assumption and we saw some real big projects which includes the liquefied natural gas export terminal that has been set up in Texas. More projects like this followed real quickly and it shaped the size of the construction industry for better.
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