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
The US Construction sector is performing reasonably well at this time, despite global turbulence. However, with inflation remaining high at + 7% and fuel/energy and household goods increasing, plus an impending recession a month or two away, the 1st Q of 2023 does not look good for the US construction sector.
Unfortunately, US oil reserves continue to fall, and the ongoing war continues in Ukraine.
Increasing borrowing/interest rates is a direct challenge to the US construction sector, especially the home building/housing sector.
It’s not all bad news; construction-related inflation is projected to decline to pre-COVID levels as energy/oil and consumer prices even out.
Construction of Fulfillment Centers, EV Battery Facilities, Computer Chip Manufacturing, Logistics/Warehouses, and Data Centers will continue to be an area of construction growth due to the continued need for at least the next 2 to 3 years.