McGraw-Hill Construction has compiled its initial tally for construction starts during 2010 and estimates that the total dollar value of all starts declined 2% to $412 billion. The non-residential building market was down 9%, while the heavy and highway markets were down 1%, despite massive federal stimulus spending on those markets. “The pace of contracting has stabilized after the steep correction of prior years, although renewed expansion for total construction has yet to take hold,” says MHC’s chief economist Robert Murray. The commercial market declined 17%, a relative improvement over 2009’s 43% decline. Other commercial markets were harder-hit, including year-to-year
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.