October 29th, 2010 | Published in Uncategorized
Since we’re on the topic of construction rebound (see previous post) … check out a new item, “Recovery in Building is Forecast for 2011,” published in today’s Wall Street Journal:
The nation’s construction industry will begin a slow recovery next year, as per the McGraw-Hill Construction forecast to be released Friday.
According to the forecast:
- The value of new projects that start construction is expected to climb to $445.5 billion, an 8% rise from this year
- New development of single-family houses, apartment buildings, and commercial properties is expected to increase
- There will be less building of new highways, bridges, and other public works (as federal stimulus money is depleted)
McGraw-Hill expects the U.S. economy will grow 2.5% in 2011. Among specific sectors, single-family housing should see the strongest rebound in 2011, with $126.7 billion in construction starts, a 27% boost, according to the forecast. Commercial buildings—which includes offices, stores, hotels and warehouses—will improve with a 16% gain to $44.9 billion.
You can read the full article here.
Are you confident in a recovery? What positive signs have you seen in your region, line of work, etc.? Look to Maxwell Systems for construction software.