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Residential to lead construction back

Published Wednesday, January 28, 2009

The drop-off in construction won’t bottom out until the end of the year at the earliest-- well after the general economy should begin to pick up—said two construction-industry economists, speaking during a joint webcast by Reed Construction Data and Associated General Contractors (AGC) of America. According to Jim Haughey, chief economist for Reed Construction Data, total construction spending won’t hit its low point until the end of 2009. That’s after when he projects the U.S. economy will bottom out, in late summer or early fall. However, he doesn’t think peak GDP ...

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