The construction industry has been suffering for two years through the toughest recession in 20 years, perhaps longer. The depth of the downturn has burned away the industry’s natural optimism, and major firms are taking a hard look at the market and at the U.S. economy. However, they now are starting to believe that a recovery should begin next year. Related Links: Economics: Despite Upturn in Steel, Lumber and Energy Prices Deflation Sweeps Cost Index Board Homebuilding: Lumber, Wallboard Prices Perk up With Modest Rebound Glass: Recession Shatters Prices, More Cuts Expected During 2010 Executive Pay: Key Players Dodge Salary
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.