The Gilbane Building Co. quarterly report on the construction industry foresees overall construction spending rising 5% during 2012. It also notes that contractors' average margin on work rose from 0.8% to 1.8% during 2011.
Acknowledging that the Architectural Billing Index correctly predicted a decline in spending in the first part of this year, Gilbane says the index predicts a rise to begin this month. It adds, "Even with the current decline in spending, the rate is still 9% above a year ago and 4% above last summer."
