The construction industry next year will continue its slow climb out of a long and deep recession, but the recovery is unsteady and remains vulnerable to factors such as the cloudy federal fiscal picture, according to McGraw-Hill Construction’s 2013 forecast, which was released at its annual Outlook conference in Washington, D.C., on Oct. 24.
Total construction starts will rise 6% next year to $483.7 billion, as a continuing rebound in housing and private nonresidential building outweighs weakness in institutional building and public works markets, says the unit's forecast. ENR is part of McGraw-Hill Construction (MHC).