Outlook Rosy for Construction in 2011

Three economists with an understanding of the industry say that construction has finally hit bottom across the board (retail, housing, office) and is poised to come back with double-digit growth in 2011.

Jeffrey Spivak gets the story for Urban Land Magazine, from a presentation by economists Kermit Baker, Kent Simonson, and Jim Haughey, all from Reed Construction Data. They report that 2011: "will be a growth year in single-family and multifamily housing, plus retail and hospital/laboratory commercial buildings, before construction spending takes off virtually across the board in 2012."

Haughey says that the economic climate is good, but developers have yet to act on the potential.

Full Story: 2011 Construction Outlook

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