Tuesday, January 19, 2010

Experts See Imporvement Ahead for Nonresidential Construction Market

Chief Economist, Jim Haughey, of Reed Construction Data in Georgia said during a recent Webinar that he expects nonresidential construction to increase by about six percent in 2011. Economists from McGrawHill Construction and The Associated General Contractors of America agree.

Haughey believes the decline in nonresidential construction, which fell by approximately 5.7% in 2009, will kick into reverse during late 2010 and lead to slow but steady progress. Some of the main areas where nonresidential construction is expected to grow include office buildings, retail stores and shopping centers, and hotels.

NFRC is watching this trend closely, particularly as it works diligently to roll out its Component Modeling Approach (CMA) Program.


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