Oct
25

McGraw-Hill: Construction to Increase 6% in 2013

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The construction industry next year will continue its slow climb out of a long and deep recession, but the recovery is unsteady and remains vulnerable to factors such as the cloudy federal fiscal picture, according to McGraw-Hill Construction’s 2013 forecast, which was released at its annual Outlook conference in Washington, D.C., on Oct. 24.

McGraw-Hill Construction (MHC) predicts that total construction starts will rise 6% next year to $483.7 billion, as a continuing rebound in housing and private nonresidential building outweighs weakness in institutional building and public works markets. (ENR is part of MHC.)

That gain would follow an estimated 5% increase for 2012, but it still would be well below 2007’s $641-billion and 2008’s $559-billion totals.

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