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Commercial construction report released
McGraw-Hill Construction, part of The McGraw-Hill Companies, released its 2011 Construction Outlook, a mainstay in construction industry forecasting and business planning, which predicts an increase in overall U.S. construction starts for next year. The level of construction starts in 2011 is expected to advance 8 percent to $445.5 billion, following the 2 percent decline predicted for 2010.
Construction sectors include single family and multifamily housing, commercial buildings, institutional buildings, manufacturing buildings, public works construction and electric utilities.
The Outlook details the forecasts for each public works construction will drop 1 percent, given the fading benefits of the federal stimulus act for highway and bridge construction. Electric utilities will slide 10 percent, falling for the third year in a row.
In addition to Mr. Murray’s Construction Outlook, industry experts delivered forecasts for green building, residential building, building product manufacturers, building materials, technology, and the economy as a whole, shedding light on these crucial sectors.