The decline in construction activity this year was broader, steeper and faster than many economists anticipated as private non-residential building markets succumbed to the credit crunch and many public markets waited for stimulus funding to be delivered. The consensus of this year’s batch of forecasts for construction in 2010 says the worst is over, but most gains will be the result of percentage comparisons with dismal 2009 numbers, while market fundamentals will be unable to sustain much forward momentum. Wall Street analyst sometimes call this activity a “dead-cat bounce.” Slide Show Source: McGraw-Hill Construction. Annual percent change for dollar volume
The growing need to collect, store and analyze the huge volumes of data collected from infrastructure project stakeholders is generating a new growth area for construction-sector firms, IT vendors and professionals.