Construction spending in Alaska this year will be around $6.6 billion, up 4% from 2017. But that overall increase is due just to a recovery in spending by the petroleum industry, which is expected to be up about 15%, to nearly $2.6 billion.
Without petroleum, overall construction spending in 2018 is likely to be down about 2%, to $4.1 billion. But even though a number of sectors will spend less, some kinds of spending—particularly for national defense—will be up.
These estimates are from the newly released 2018 construction forecast, prepared by Scott Goldsmith, professor emeritus of economics at ISER, for the Associated General Contractors of Alaska and the Construction Industry Progress Fund. He has made these forecasts of construction spending every year since 2004.
Download Alaska's 2018 Construction Spending Forecast (PDF, 1.6MB).
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