McGraw-Hill Construction has revised its forecast for construction starts in 2009 based on the impact of federal stimulus. “Stimulus spending will shift public works from a negative to a plus,” says Robert Murray, chief economist. Highway and bridge work will be up 15% this year as opposed to a 5% to 10% decline. Environmental markets will show a 10% increase instead of a 5% decline. + Image SOURCE: MCGRAW-HILL CONSTRUCTION RESEARCH & ANALYTICS
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.