A multiyear federal infrastructure investment bill could boost construction spending by 2% and drive prices and volumes for cement and aggregates higher.
ForConstructionPros.com
By Becky Schultz
February 4, 2021 Continued strong demand for single-family housing, low housing inventory, steady infrastructure spending and continued low interest rates are all factors that will support strength in construction activity, says Moody’s Investors Service in its latest Building Materials report. It projects U.S. construction spending will grow 3.2% in 2021 and 3.4% in 2022, primarily driven by stable residential and public construction activity, as well as a nonresidential spending recovery. Passage of a multiyear federal infrastructure investment bill would give a substantial boost to the longer-term outlook for construction activity, the report concludes.
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