As the overall economy continues to struggle, nonresidential construction spending is expected to decrease by 11% in 2009 in inflation-adjusted terms, according to the AIA Consensus Construction Forecast. This semi-annual forecast is based on a survey of the nation’s top construction forecasters, including McGraw Hill Construction, Global Insight, Moody’s Economy.com, Reed Business Information and FMI. [...]
Construction + Economy
Builder Confidence Remains at Record Low in December
Builder confidence in the market for newly built single-family homes held at a record low in December as deepening economic turmoil, a deteriorating job market, and an ongoing flow of foreclosed homes onto the market continued to negatively impact sales conditions. The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) did not budge [...]
Construction + Economy, Lighting Industry
Annual Rate of Construction Valued at $1.08 Trillion in November
The U.S. Census Bureau of the Department of Commerce recently announced that construction spending during November 2008 was estimated at a seasonally adjusted annual rate of $1,078.4 billion, 0.6% (±1.6%) below the revised October estimate of $1,085.3 billion. The November figure is 3.3% (±2.2%) below the November 2007 estimate of $1,115.3 billion. During the first [...]
Lighting Solution Development
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