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Dodge Data & Analytics Economist Robert Murray Finds a ‘Number of Positives Going into 2016’

Friday, November 06, 2015  
Posted by: Trish Moss
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 Dodge Data & Analytics economist Robert Murray forecasts total U.S. construction starts to increase 6 percent to $712 billion for 2016, following the 13 percent increase estimated for 2015, which drew much of its lift from the volatile electric utility and gas plant category. “While the rate of growth for total construction starts in 2016 will be less than what was reported during the 2012-2015 period, there are still a number of positives going into 2016,” Murray wrote in the 2016 Dodge Construction Outlook. Speaking during Dodge Data & Analytics’ 77th annual Outlook Executive Conference on Oct. 30 in Washington, D.C., Murray, vice president of economic affairs, Dodge Data & Analytics, noted that residential building in 2016 “should maintain its upward track, rising 16 percent.” He expects nonresidential building in 2016 to grow 9 percent, “regaining the upward momentum after the flat to slightly weaker performance in 2015.” Non-building construction, however, is forecast to drop 14 percent after jumping 28 percent in 2015, he said.