The construction market has yet to see signs of recovery from the current recession, but the recovery may be coming next year if factors such as employment and bank lending fall into place, according to a forecast released by McGraw-Hill Construction. Photo: Bruce Buckley For ENR If construction employment shows growth, banks loosen credit, and state and local governments get a handle on budget difficulties, next year could see an increase of 8% in new starts. Robert Murray, MHC’s vice president of economic affairs, foresees an 8% increase in total construction starts to $445.5 billion in 2011. Much of that
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.