In its recently released 2011 Construction Outlook, McGraw-Hill Construction predicts an 8 percent increase in overall U.S. construction starts for next year, to $445.5 billion, following the 2 percent decline predicted for 2010.
“While the economy is still facing headwinds, the stage is being set for construction to see modest improvement in 2011 from this year’s very weak activity,” said Robert A. Murray, vp economic affairs at McGraw-Hill Construction. “We’re turning the corner, slowly. 2011 will be the first year of renewed growth for overall construction activity, and 2010 becomes the final year of a very lengthy and unusual construction cycle.”
According to the Construction Outlook: Single family housing in 2011 will climb 27 percent in dollars and 25 percent in units; multifamily housing will rise 24 percent in dollars and 23 percent in units; and commercial buildings will see a 16 percent increase in activity. For more information, visit www.construction.com.
McGraw-Hill report says 2011 construction will rise
December 14, 2010