Forecast 2012: Recovery Stalls As Public Works Sputter
"The market is stabilizing," according to Murray. "It's setting the stage for a more full-fledged expansion in 2013 or 2014."
Forecast 2012
| Total Construction | 428,618 | 409,800 | 411,800 | –4.4 | 0.0 | |
| RESIDENTIAL | 120,953 | 118,350 | 132,575 | –2.2 | +12.0 | |
| SINGLE-FAMILY HOUSING | 99,966 | 94,700 | 104,575 | –5.3 | +10.0 | |
| MULTIFAMILY HOUSING | 20,987 | 23,650 | 28,000 | +12.7 | +18.0 | |
| NON-RESIDENTIAL | 160,219 | 149,850 | 152,425 | –6.5 | +2.0 | |
| OFFICE BUILDING | 16,561 | 16,500 | 17,350 | –0.4 | +5.0 | |
| HOTELS AND MOTELS | 3,317 | 4,600 | 5,000 | +38.7 | +9.0 | |
| STORES AND SHOPPING CENTERS | 12,590 | 12,600 | 13,275 | +0.1 | +5.0 | |
| OTHER COMMERCIAL | 8,843 | 10,175 | 11,825 | +15.1 | +16.0 | |
| MANUFACTURING | 9,183 | 12,400 | 12,875 | +35.0 | +4.0 | |
| EDUCATIONAL BUILDINGS | 46,949 | 40,900 | 39,300 | –12.9 | –4.0 | |
| HEALTH-CARE FACILITIES | 23,434 | 22,450 | 22,875 | –4.2 | +2.0 | |
| OTHER INSTITUTIONAL BUILDINGS | 39,341 | 30,225 | 29,925 | –23.2 | –1.0 | |
| NON-BUILDINGS CONSTRUCTION | 147,446 | 141,600 | 126,800 | –4.0 | –10.0 | |
| HIGHWAYS AND BRIDGES | 58,785 | 54,000 | 50,200 | –8.2 | –7.0 | |
| ENVIRONMENTAL PUBLIC WORKS | 32,678 | 28,600 | 27,300 | –12.5 | –5.0 | |
| OTHER PUBLIC WORKS | 27,529 | 17,000 | 17,300 | –38.3 | +2.0 | |
| ELECTRIC UTILITIES | 28,453 | 42,000 | 32,000 | +47.6 | –24.0 |
| Total Construction | 817,638 | 834,793 | 886,236 | +2.0 | +6.0 | |
| TOTAL RESIDENTIAL | 249,684 | 271,053 | 303,922 | +9.0 | +12.0 | |
| SINGLE-FAMILY | 113,377 | 117,912 | 137,957 | +4.0 | +17.0 | |
| MULTIFAMILY | 17,718 | 19,136 | 23,920 | +8.0 | +25.0 | |
| Home Improvement | 118,588 | 134,005 | 142,045 | +13.0 | +6.0 | |
| TOTAL NON-RESIDENTIAL | 352,731 | 346,177 | 356,436 | –2.0 | +3.0 | |
| LODGING | 11,948 | 10,037 | 10,438 | –16.0 | +4.0 | |
| OFFICE | 39,163 | 37,205 | 39,065 | –5.0 | +5.0 | |
| AMUSEMENTS AND RECREATION | 17,092 | 16,750 | 17,420 | –2.0 | +4.0 | |
| RELIGIOUS | 5,344 | 4,382 | 4,250 | –18.0 | –3.0 | |
| EDUCATION | 89,429 | 87,641 | 91,146 | –2.0 | +4.0 | |
| HEALTH CARE | 40,523 | 41,334 | 42,574 | +2.0 | +3.0 | |
| COMMERCIAL | 40,896 | 43,759 | 45,509 | +7.0 | +4.0 | |
| MANUFACTURING | 38,877 | 36,544 | 35,813 | –6.0 | –2.0 | |
| PUBLIC SAFETY, ADMINISTRATIVE | 12,879 | 12,364 | 11,993 | –4.0 | –3.0 | |
| TRANSPORTATION | 38,304 | 37,155 | 38,269 | –3.0 | +3.0 | |
| NON-BUILDING STRUCTURES | 215,223 | 217,564 | 225,878 | +1.0 | +4.0 | |
| CONSERVATION AND DEVELOPMENT | 6,966 | 6,757 | 7,095 | –3.0 | +5.0 | |
| HIGHWAYS AND STREETS | 82,996 | 80,506 | 82,117 | –3.0 | +2.0 | |
| SEWERS SYSTEMS | 26,171 | 25,648 | 26,930 | –2.0 | +5.0 | |
| POWER | 83,832 | 89,700 | 94,185 | +7.0 | +5.0 | |
| WATER SUPPLY | 15,258 | 14,953 | 15,551 | –2.0 | +4.0 |
Public works will be down in four out of five regions in 2012 The western region will see a 23% decline in nonbuilding construction activity.
SOURCE: FMI CORP., RALEIGH, N.C. HISTORICAL DATA are COMPILED FROM BUILDING PERMITS, CONSTRUCTION PUT-IN-PLACE and TRADe-SOURCE ESTIMATES FOR 2011, AS WELL AS A FORECAST FOR 2012 BY FMI.
To see the full report, including analysis and data in PDF format, click here. (Subscription required.)
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