BMI View: We expect to see continued strength in the US construction industry overall, as a resilientresidential and non-residential construction segment continues to expand. Growth in the infrastructuresector is set to accelerate as the FAST Act, ballot initiatives, and state-level gas tax increases willsupport increased public spending on transport.
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We have not factored into our forecasts President Trump's USD1trn infrastructure plan, as fundingremains unsecured, and infrastructure will take a back seat to tax and healthcare reform in a RepublicancontrolledCongress.
President Trump's infrastructure plan - which would rely heavily on tax-credit induced private capital -will likely fall well short of the USD1trn in promised new investment.