Expansion Ahead for Most Construction Sectors

04/07/2005


The U.S. economy is expected to expand more slowly in 2005 than it did in 2004, but the nonresidential construction market will continue to grow at an above average pace, according the March, 2005 Construction Forecast Monthly from Reed Construction Data. If all goes well, say the researchers, the Gross Domestic Product (GDP) growth rate will be slightly faster than the sustainable long-term growth rate—the pace that keeps the unemployment rate stable and the inflation rate in check. The predictions for the latter are from just under 3% to slightly more than 4%.

Reed researchers predict 10% to 11% economic growth in the 2005-2007 period, which should be enough to ensure strong growth in the nonresidential construction and engineering markets. However, they point out that new residential construction is likely to be the only major sector of the economy that will contribute to growth in 2005-2006.

Moreover, say the researchers, there don’t appear to be any imbalances in the U.S. economy that will shut down the economic expansion in the 2005-2006 period.

Spare building capacity continues to shrink and inventory investment will add fuel to growth in nonresidential building construction.

For the complete story, click here .





Product of the Year
Consulting-Specifying Engineer's Product of the Year (POY) contest is the premier award for new products in the HVAC, fire, electrical, and...
40 Under Forty: Get Recognized
Consulting-Specifying Engineer magazine is dedicated to encouraging and recognizing the most talented young individuals...
MEP Giants Program
The MEP Giants program lists the top mechanical, electrical, plumbing, and fire protection engineering firms in the United States.
May 2018
40 Under 40 winners, fire and life safety, performance-based designs, and more
April 2018
VRFs, lighting controls, BIM coordination, and more
March 2018
Sizing water pipes, ASHRAE 90.1, recovering waste heat, and more
Data Centers: Impacts of Climate and Cooling Technology
This course focuses on climate analysis, appropriateness of cooling system selection, and combining cooling systems.
Safety First: Arc Flash 101
This course will help identify and reveal electrical hazards and identify the solutions to implementing and maintaining a safe work environment.
Critical Power: Hospital Electrical Systems
This course explains how maintaining power and communication systems through emergency power-generation systems is critical.
click me