November 3, 2010
McGraw-Hill Predicts Better US Construction Sector In 2011

A major construction report predicts overall US construction investment in 2011 will increase 8% to $445.5bn, following a 2% decline expected in 2010.

McGraw-Hill Construction's "2011 Construction Outlook" report predicts next year will be the first year of overall renewed construction growth since the economic downturn began, Steel Business Briefing notes. McGraw-Hill predicts single family housing investment will climb 27% next year, with a 25% increase in the number of units built to 565,000. Commercial building will increase 16%, though "the levels of activity expected for stores, warehouses, offices and hotels in 2011 will still be quite weak by historical standards," the report said.

The institutional building market will slip by 1%. "The difficult fiscal climate for states and localities will continue to dampen school construction, although the healthcare facilities category should see moderate growth," according to McGraw-Hill.

Public works construction will also drop 1%, "given the fading benefits of the federal stimulus act for highway and bridge construction," the report said.

Source: Steel Business Briefing, November 2, 2010

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