The United States suffered its worst recession in 70 years following the collapse of the housing market. The good news is some economists believe the economy began to recover in Q309 after hitting bottom in the second quarter. The residential construction market is expected to recover, and the Federal stimulus has generated some growth in public nonresidential construction.
The bad news, however, is the private nonresidential construction market is in “freefalll,” in the words of one construction economist—expected to decline 13.4% in 2010 before starting to recover in 2011.
Click here to read this special report, which I wrote on behalf of the Lighting Controls Association.
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