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Commercial Building Construction Forecast to Keep Growing

Estimate is 4.3 Percent Annually for Next Four Years

Commercial Building Construction Forecast to Keep Growing

Increased spending by consumers and expanding government revenue is expected to fuel continued advances in the commercial construction market.

A new report from Freedonia Focus Reports predicts that expenditures on commercial building construction in the U.S. will increase 4.3% annually through 2023 according to an analysis by

The information is broken out by market segments including education, office, industrial healthcare, lodging, transportation, religious, retail and wholesale and others, and takes into account total expenditures and added floor space in square feet.

Details contained within include new commercial building construction and improvements such as additions, alterations, and major replacements such as heating systems. Not included are maintenance and repairs for existing structures and service facilities, land acquisition costs, drilling of gas and oil wells, and digging and shoring of mines.

The description of the report states, "As defined by the US Census Bureau, expenditures represent architectural and engineering costs; labor, material, and overhead costs; interest and taxes paid during construction; and contractors' profits. Key macroeconomic indicators are also provided with quantified trends."

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November 13, 2019, 7:16 pm PDT

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