After a sluggish 2013, the construction industry could see a gradual uptick in total construction starts in 2014, according the McGraw-Hill Construction’s 2014 Dodge Construction Outlook. McGraw-Hill Construction forecasts that total construction starts could rise by 9% next year to $555 billion, led by a solid housing market and improved opportunities in commercial building. Non-building sectors, especially electrical utilities, could be drag on starts in the coming years.
“It’s another step along the road to recovery, but on the painful to frustrating side at times,” says Robert Murray, vice president of economic affairs at McGraw Hill Construction.