Forecast on the Construction Industry – Good with the Bad
For many contractor’s it’s been a tough run over the last several years and the construction recovery seems to finally be slowly but surely growing. While the housing market has been slow to rebound we have seen non residential markets in the commercial sector starting to improve. Here, we have seen a steady increase (about 14%) in quotes for new and used job site trailers which is a good indicator of increased construction projects across the nation. We certainly are not out of the woods yet and the recession has put millions of people out of work and until we get them back to work we won’t really see much increase or stability in the American economy, thus increase in the residential and commercial contracting industry.
Federal government funding will play a role in the construction market over the next couple of years and many smaller contracting firms will have to be more creative than ever to acquire new work as we wait for things to settle down and regain momentum. Single family housing and multifamily housing are expected to rise along with commercial and institutional building projects. On the flip side public works construction and electric utility construction will likely take pretty big a hit in 2014.
According to one source there is a higher increase in demand for fields like reinforcing iron, glaziers, and masons. The chart below explains those findings and more.
Looking at the volume of requests for office trailer quotes in 2013 we saw a huge increase in early Spring and 2014 seems to be shaping up the same way. If you need a competitive price quote please visit our quotes for office trailers page.