Forecast Lifted; Pullback Still Likely in Reaction to Prior Economic Slowdown and High Rates
US Private Nonresidential Construction Index is an index including private construction of the following types: office, commercial, automotive, lodging, dining, retail, warehouse, storage facilities, schools, dormitories, sports facilities, galleries, museums, hospitals, medical buildings, special care facilities, religious buildings, fitness centers, amusement parks, movie theaters, social centers, transportation facilities, power facilities, and manufacturing facilities.
ITR Economics has classified this index as being in phase C of the business cycle. Phase C or “Slowing Growth” occurs when the annual growth rate (12/12) is positive, but the rate of growth is declining. We denote this phase with yellow (for caution).
ITR forecasts the annual growth rate for 2025 at -1.4%, .02% in 2026, and 2.7% in 2027.
