Building Boom Helps Power U.S. Economy

Investing.com – From coast to coast, the U.S. economy is experiencing a building boom.

Construction in major cities such as New York, Chicago, Seattle and Los Angles is at or near a record level, as developers add dozens of office towers to their skylines.

On a smaller scale, confidence among builders of single family homes recently hit an 18-year high. Construction of new homes is expected to grow 5% in 2018

Overall, construction spending hit a record annual rate of almost $1.3 trillion dollars in 2017, led by private projects, according to government data,

All that activity has meant a hiring binge. One tenth of the 2.1 million jobs created in 2017 was in construction. Still, employers say they can’t find enough skilled workers.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.