The construction market has yet to see signs of recovery from the current recession, but it’s coming next year, according to a forecast released by McGraw-Hill Construction. Photo: Bruce Buckley for ENR Robert Murray says the recovery has been delayed by a stalled economy, but should change next year. Robert Murray, vice president of economic affairs, foresees an 8% increase in total construction starts to $445.5 billion in 2011. Much of that prediction is based on the single-family housing market finally seeing substantial growth with starts rising 27% to $126.7 billion. Similarly, multifamily housing starts are predicted to rise 24%
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.