Steel Construction Expected to Soften in 2017
10/04/2016 - There are many adjectives that will adequately describe the state of the steel construction markets in 2017, and none of them are particularly good, at least as the American Institute of Steel Construction sees it.
According to John Cross, the institute’s vice president of market development and finance, construction is expected to cool in the coming year, partly due to the cyclical nature of the business.
“The construction market is running its course,” he said, speaking during the CRU North American Steel 2016 conference.
Cross said nonresidential construction is projected to level off in 2017 and decline modestly in 2018. At the same time, multistory residential construction – buildings of more than four stories tall -- is expected to decline 5 percent next year, with further declines expected in 2018.
Additionally, industrial construction is expected to be flat in 2017 and decline modestly in 2018, he said.
“Certainly nothing there to write home about or be particularly excited about,” he said.
“I would certainly like to see a lot of robust growth in the construction sector of the U.S. economy, but at this point, we don’t think that’s going to occur.”
“The construction market is running its course,” he said, speaking during the CRU North American Steel 2016 conference.
Cross said nonresidential construction is projected to level off in 2017 and decline modestly in 2018. At the same time, multistory residential construction – buildings of more than four stories tall -- is expected to decline 5 percent next year, with further declines expected in 2018.
Additionally, industrial construction is expected to be flat in 2017 and decline modestly in 2018, he said.
“Certainly nothing there to write home about or be particularly excited about,” he said.
“I would certainly like to see a lot of robust growth in the construction sector of the U.S. economy, but at this point, we don’t think that’s going to occur.”
