FMI’s 2016 Construction Outlook, Third Quarter Report
The construction industry has largely recovered from the recession, at least in terms of billions of dollars in construction put in place. Up until the last two years, it seemed like a very slow recovery, but then the return to growth blossomed. The acceleration of growth in the past couple of years wasn’t a complete surprise. However, fresh memories of the recession kept some companies from hiring until everyone else started hiring to the point where labor shortages in the industry became a big issue. Pent-up demand was set free in almost every construction sector.