Industrial/Commercial Construction Cost Data
Compass International, Inc. is a professional commercial construction cost estimating and consulting firm established in 1992 to provide services to Owners, Financial Institutions, Design Professionals and Construction Organizations.
Compass International services include the publication of eight annual Industrial and Commercial construction cost databases, project and construction management, estimation reviews, audits, and validation services, as well as value engineering, strategic planning, and in-house training for up to 25 mid-senior level staff.
GLOBAL CONSTRUCTION NEWSLETTER
Forecasting the Global Construction Industry in 2024 is not any easy undertaking. However, a number of experts / economists are bullish about 2024 prospects for a number of Oil & Gas, EV battery manufacturing, call centers, infrastructure, fulfillment centers and onshore & offshore wind energy.
It appears that the US economy and construction sector will not experience a full blown economic recession as we move into 2024.
Construction costs in the USA have increased by 27% since 2020, averaging a 9% increase in this 3 year period, inflation has fallen rather dramatically in the last 6 months, however the Global Construction market remains susceptible in 2024 to future labor and construction material price increases.
USA Real GDP growth forecasts for 2024 is in the 1.7% to 2.2% range, not a particularly a stellar year ahead the USA.