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Construction spending slump to persist in 2010

Post Time:Jan 27,2010Classify:Industry NewsView:106

Despite noting that “the long-awaited recovery seems to be underway,” the AIA's newly released Consensus Construction Forecast offers little reason for optimism in 2010. It does, however, provide hope for 2011.

The semi-annual report—compiled from data provided by McGraw-Hill Construction, Global Insight, Portland Cement Association, MoodysEconomy.com and other sources—predicts that nonresidential construction activity will fall another 13.4 percent in inflation-adjusted dollars this year, which is notably better than the 20 percent drop-off in 2009. In the report, nonresidential construction refers to the commercial, industrial, and institutional sectors., according to a Jan. 22 Architectural Record report.

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Source: http://www.glassmagazine.com/news-item/commercial/construction-spending-slump-persist-2010Author:

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