According to GE Capital’s Q4/14 Construction Update, non-residential construction should continue to benefit from strength in the hospitality, office and industrial markets.

Other findings in the update include:

• Following its mid-December FOMC meeting the U.S. Federal Reserve indicated it would be “patient” in beginning to raise interest rates and revised lower their median interest rate forecasts for 2015 and 2016.
• December nonfarm payrolls rose a very strong 321,000. Since Q2 2014, nonfarm payroll gains have averaged over 250,000 per month as the economy appears to strengthen.
• YTD though mid-December 2014 energy prices have plummeted with crude oil prices down over 40%, resulting in lower input prices for contractors and greater disposable income for consumers.
• After very strong years in 2012 & 2013, growth in single –family home sales appears to have slowed somewhat in H2 2014 and should stabilize at moderately lower levels in 2015.

To read the full construction update, click here.