In the United States, private construction spending reached around 992 billion U.S. dollars in 2018. New construction put in place is forecast to reach over 1.53 trillion U.S. dollars by 2022. After the collapse of oil prices, the demand in the engineering and construction sector has slowed. Political and policy changes under the new White House government will also inevitably alter the construction industry. A downturn in business across the national construction industry will likely see companies focus more heavily on the South and Midwest regions. Aging infrastructure has also become a greater concern in the U.S. and a focus on updating infrastructure is expected.
In the United States, private construction spending reached around 992 billion U.S. dollars in 2018. New construction put in place is forecast to reach over 1.53 trillion U.S. dollars by 2022. After the collapse of oil prices, the demand in the engineering and construction sector has slowed. Political and policy changes under the new White House government will also inevitably alter the construction industry. A downturn in business across the national construction industry will likely see companies focus more heavily on the South and Midwest regions. Aging infrastructure has also become a greater concern in the U.S. and a focus on updating infrastructure is expected.
