Construction Market Data and Research, as well as 2007 Construction Outlook featured in report. Report covers construction market data and research, as well as the 2007 construction forecast.
Nov 28, 2006
On October 27, 2006 at its 68th annual Outlook Executive Conference McGraw-Hill Construction, part of The McGraw-Hill Companies (NYSE: MHP), released its 2007 Construction Outlook. This report coversconstruction market data and research, as well as the 2007 forecast.
The forecast is that the 2007 construction market will be a mix of pluses and minuses, with the net result that the forecast for total construction is $668 billion, a modest 1% decline.
The forecast will be influenced by the deflation of the single-family construction market, which boomed from 2000 - 2005, remaining high until 2006, when it deflated at a faster rate than expected. "Single-family housing has fallen more steeply than what we had anticipated, and the correction is taking place faster," states Robert Murray, McGraw-Hill Construction vice president of Economic Affairs and Chief Economist. He continues, stating that the construction industry "no longer has single-family housing to bolster total construction."
Despite this 5% forecasted decrease in single-family housing, the construction industry will have several growth sectors. Among the construction market data in the report's findings for 2007:
Institutional buildings will advance 7% in dollar volume and 4% in square footage.
Manufacturing building is expected to rise 14% from a lackluster 2006 performance.
Public works construction will grow 5% on top of the 10% increase in 2006 due to highway and bridge construction, as well as environmental projects.
For the complete 2007 Construction Outlook, including construction market data and research, plus a webcast of the conference speakers, go to www.analyticsstore.construction.com
About McGraw-Hill Construction
McGraw-Hill Construction, part of The McGraw-Hill Companies (NYSE: MHP), connects people, projects and products across the design and construction industry. Backed by the power of Dodge, Sweets, Engineering News-Record (ENR), Architectural Record, and Regional Publications, the company provides information, intelligence, tools, applications and resources to help customers grow their business. McGraw-Hill Construction serves more than one million customers within the $4.6 trillion global construction community. For more information, visit www.construction.com.
http://www.analyticsstore.construction.com
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