Construction Market to Cool in 2006
Forecasts for 2006 show overall construction will slow with an increase of 3 percent compared with the 8 percent increase seen last year. Top growth markets for the coming year include institutional, commercial and manufacturing construction.
McGraw-Hill Construction/Dodge, an economic engine that generates monthly construction starts data for the industry, predicts an overall increase of 3 percent to $654.3 billion in 2006. That's compared with an 8 percent increase from 2004 to 2005.
One of the top markets will be public construction, namely highways and streets and educational facilities. Commercial construction is also expected to see strong growth. McGraw-Hill predicts the strongest increase though from industrial construction, with a 9 percent boost ...