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Disruptions to the U.S. construction market caused by the pandemic were significant, but have not fully derailed activity, according to a forecast from Portland Cement Association
Alongside swarms of contractors and others pouring in to the annual World of Concrete trade show in Las Vegas, the Portland Cement Association released a relatively rosy economic forecast for 2020 into 2021.
Trump’s unexpected election is having little impact on next year’s construction market forecasts: The fundamentals are strong and already in place. The year to watch is 2018.
The ink barely had dried on this year’s batch of construction market forecasts when economists had to take a second look at their numbers to evaluate the impact of Donald Trump’s victory in the presidential election, which brought with it a Republican-controlled Senate and House.
In a sign that the trend toward equipment renting is not slowing down, the American Rental Association says the rental industry can expect a compound annual growth rate of 4.9% over the next few years. ARA’s five-year forecast predicts that U.S. rental revenue will top $57 billion in 2020, a significant increase over the $47.6 billion estimated for 2016.