Construction Market to Increase 11% in 2010

By
Home Inspector with Target Building Inspections LLC

Gains in housing and public works will offset declines in commercial and manufacturing building

October 16, 2009 - McGraw-Hill Construction, part of The McGraw-Hill Companies (NYSE: MHP), today released its 2010 Construction Outlook, a mainstay of business planning for construction and manufacturing executives, which forecasts an increase in overall U.S. construction starts for next year. Due to improvement for housing from extremely low levels and broader expansion for public works, the level of construction starts in 2010 is expected to climb 11% to $466.2 billion, following the 25% decline predicted for 2009.

"The U.S. construction market in 2010 will be helped by growth for several sectors, following three straight years of decline that brought total construction activity down 39% from its mid-decade peak," said Robert A. Murray, vice president of economic affairs for McGraw-Hill Construction, addressing more than 300 construction executives and professionals at the 71st annual Outlook 2010 Executive Conference in Washington today. "The benefits from the stimulus act will broaden in scope, lifting not just highway construction but also environmental public works and several institutional structure types. With continued improvement expected for single family housing, after reaching bottom earlier this year, the overall level of construction activity should see moderate expansion in 2010."

 

Oh wouldn't it be great if it was like 04' and 05' again.... I tend to review "The Construction Monitor" for more accurate reporting here in our area though.

 

read the full article.... http://www.construction.com/AboutUs/2009/1016pr.asp

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Rainmaker
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Bob Jakowinicz
734-578-6561 - Michigan Real Estate Agent
National Realty Centers Livonia--Bob Jakowinicz

I hope this is the case.  Building go up even at all at this point would be great in our area, things are trying to get better we just need a little nudge, lol.

November 25, 2009 02:14 PM
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Ben Schern

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