Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 52 Page 53 Page 54 Page 55 Page 56 Page 57 Page 58 Page 59 Page 60 Page 61 Page 62 Page 63 Page 64 Page 65 Page 66 Page 67 Page 68 Page 69 Page 70 Page 71 Page 72 Page 73 Page 74 Page 75 Page 76 Page 77 Page 78 Page 79 Page 80 Page 81 Page 82 Page 83 Page 84 Page 85 Page 86 Page 87 Page 88 Page 89 Page 90 Page 91 Page 92 Page 93 Page 94 Page 95 Page 96 Page 97 Page 98 Page 99 Page 100 Page 101 Page 102 Page 103 Page 104 Page 105 Page 106 Page 107 Page 108 Page 109 Page 110 Page 111 Page 112 Page 113 Page 114 Page 115 Page 116 Page 117 Page 118 Page 119 Page 120 Page 121 Page 122 Page 123 Page 124 Page 125 Page 126 Page 127 Page 128continue to experience solid growth in 2017 with bathrooms, kitchens and in-law room addi- tions driving remodeling activity. Rising home values and low inter- est rates are allowing homeowners to take out home-equity loans for the remodeling project – thus driv- ing demand across all aspects of construction – especially for new tile or stone flooring! Overall, the residential market is forecast to account for close to 60% of all tile consumption in the U.S. in 2017, and will be the driver of growth for flooring. For dealers, distributors and profes- sional installers – the question of how your business aligns with this segment and the forecasted growth is one that should be examined to capture some of that share- especially in shower remodels and kitchen floors and backsplashes. Commercial construction The com- mercial con- struction seg- ment is fore- cast to expe- rience steady growth in 2017 of b e t w e e n 4% and 7% in terms of new square footage over 2016. The commercial segment is being aided by a continued easing of lending standards that allow for more of the much-needed financ- ing for large projects combined with an increase in demand for commercial lending, accord- ing to Dodge Data Analytics. Another good indicator is the recent survey results reported by the AIA Architectural Billings Index, which indicated demand for architect design services was positive throughout 2016. With a typical 6-9-month lag from design to actual starts, the demand for design work experienced in 2016 should be realized through- out 2017 when the projects actu- ally start. Looking within the commercial segment, single digit growth is basically forecasted across most verticals, with education leading the way; however, the hotel seg- ECONOMIC OUTLOOK 2017 –––––––––––––––––––––––––––––––––––––––– 54 TileLetter | February 2017