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Construction market to increase 11 percent in 2010, according to Outlook report

Post Time:Oct 16,2009Classify:Industry NewsView:110

McGraw-Hill Construction, part of The McGraw-Hill Cos., 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, according to an Oct. 16 release. 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 percent to $466.2 billion, following the 25 percentdecline 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 percentfrom its mid-decade peak,” said Robert A. Murray, vice president of economic affairs, McGraw-Hill Construction, addressing more than 300 construction executives and professionals at the 71st annual Outlook 2010 Executive Conference in Washington, D.C., Oct. 16. “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.”

Source: http://www.glassmagazine.com/news-item/commercial/construction-market-increase-11-percent-2010-according-outlook-reportAuthor:

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