- Midcourse revisions in the Dodge Construction Outlook move the overall construction-start number from flat to a 2% increase during 2012.
- The industry remains as weak as the economic recovery, however. A 2012 increase would follow a flat 2011 and a 1% better 2010 after a 29% crash in 2009.
- Sagging institutional and public works, along with reduced manufacturing after an unusual number of big projects starting in 2011, will pull down double-digit gains for commercial and all types of residential.
From the article:
McGraw-Hill Construction, part of The McGraw-Hill Companies (NYSE: MHP), today released its 2012 Dodge Construction Outlook Midyear Update projections, which revise the forecasts provided last October at the firm's annual Outlook Conference in Washington DC. The Outlook Midyear Update predicts that total construction starts for the U.S. will increase 2% this year to $445 billion, up from the $434 billion reported for 2011. ...