The recession is expected to keep its grip on costs through the second half of this year, despite a shift in what is affected. Construction costs heavily influenced by residential construction have already bounced up from historic lows, but that may be coming to an end, along with the expiration of federal tax credits for first-time homeowners. Costs associated with the nonresidential building markets have bottomed out. But while there is not much room for further declines, there is also very little upward pressure from either the labor or materials markets on the nonresidential building cost indexes. Image Related Links:
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.