The seeming boundless optimism of the construction industry has been sorely tested over the past two and a half years. The market recession that hit nearly every market in every region of the U.S. has cast a pall over the industry, which has seen projects and opportunities dry up, firms large and small fall by the wayside and unemployment rates in the trades of over 20%. The mantra for recovery has been “Wait till next year.” But amid this gloom, a new sense of hope is beginning to appear in the industry, according to the most recent ENR Construction Industry
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.