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IHS Global Insight says U.S. construction spending will be flat in 2011
After falling 8.3% in 2010, U.S. construction spending will be flat in 2011, pushed higher by positive second-half gains in the residential and commercial sectors as they begin to move up from the historic lows of the recent past, according to the "Fourth Quarter U.S. Construction Briefing" by IHS Global Insight’s Construction Service.
PlasticsToday Staff
December 15, 2010
1 Min Read
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Some key findings in this report, released Dec. 8, 2010, include: In 2010, gains in the single-family and improvement sectors will offset the continued weakness in the multi-family segment, resulting in overall growth of 1.7%. Growth in residential construction will fall to 0.4% in 2011 before becoming steadier in 2012 as the housing market corrects itself.
In the Commercial construction segment, after seeing loses of more than 50% from 2008 levels, the commercial construction sector will reach bottom in 2010 and will see significant improvement in 2011, with growth of 3.1% in the sector. —PTStaff
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