THIS QUARTER

Pressure from multiple economic factors is finally beginning to curb U.S. construction growth, as the domestic economy shows signs of slowing. U.S. GDP decelerated to a 2.6% growth rate in the fourth quarter of 2018, after a stellar 4.2% gain in Q2 and a 3.5% gain in Q3. 717,000 jobs have been added since Q3, and the unemployment rate edged upward to 3.9% by year’s end. While 2019 is forecasted for moderate growth, Q3 2018 saw domestic spending on total non-residential construction increase 3.8% year-over-year (y-o-y), reaching $656 billion. READ MORE

DANIEL POMFRETT, MRICS | REGIONAL DIRECTOR | dpomfrett@ccorpusa.com