ABC forecasts downturn in 2009 construction activity
The overall weakness experienced by the U.S. economy this year will become apparent in the construction industry in 2009, according to a forecast by Associated Builders and Contractors. "While nonresidential construction employment was down 4.7% on a year-over-year basis in October, this level of job loss pales in comparison to what is likely to emerge over the next twelve months," said Anirban Basu, the group's chief economist. ABC predicts that commercial building will be off between 10% and 20% next year from 2008 levels.
GoStructural.com
| 12/22
This story published in AGC SmartBrief on 12/24/2008
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