Dive summary:
- Associated General Contractors' chief economist, Ken Simonson, expects private-sector spending for residential construction and non-residential to go up 10% to 15% this year as momentum carries 2012 gains forward.
- Public-sector spending will continue to shrink, however, probably another 1% to 5%, and he expects the net gain across the industry to wind up at 5% to 10% for 2013.
- Simonson expects to see growth in construction in several areas in commercial construction, but retail and office will yield more renovation jobs than new buildings.
From the article:
In 2013, contractors will have to start adding significant numbers of workers, at last, to achieve further output gains. ...
