As an Aug. 2 deadline looms on raising the federal debt limit and with no deal yet in sight (at ENR's press time), anxious construction industry officials await Washington's next move as lawmakers negotiate a plan to steer the U.S. clear of a default on its debt obligations. Photo by AP Wideworld DEADLINE NEARS: McConnell (2nd from right) floated back-up plan with phased debt-limit boost. He has been discussing the plan with Reid (3rd from right). Related Links: Center for American Progress Report on Perils of Not Raising Debt Ceiling Construction economists say if congressional leaders and the White House
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.