|
|
Description
The 2008 Construction Outlook Midyear Update is a 14 page report on industry trends and detailed economic forecasts that will affect the construction industry in 2008 authored by Robert Murray, MHC's Chief Economist. It updates last year's McGraw-Hill Construction 2008 Construction Outlook, including information on the current economic environment, an overview of different construction markets, and construction forecast tables.
The information provided by Robert Murray, vice president of economic affairs for McGraw-Hill Construction, was presented at the McGraw-Hill Construction's Engineering News-Record (ENR) and the Construction Users Roundtable (CURT) Forum on June 11, 2008 in St. Louis, MO. The report will share facts and figures for planning in this year's bumpy market with the Forum's 300 attendees. Mr. Murray's update to the 2008 projections for U.S. construction start activity will offer insights on changing prospects for nonresidential building and public works. This will be the first presentation of 2008 where the Economic Outlook Midyear Report will be distributed.
2008 Construction Outlook Midyear Update Excerpt:
The shifting climate is reflected in the year-end balance figures for all fifty states, expressed as a percent of total revenue. The Fiscal Survey estimates that the year-end balance for fiscal 2007 was 9.5%, down from the record high of 11.5% set in fiscal 2006. For fiscal 2008, a year-end balance of 6.7% is forecast, which depicts reasonable health by the standards of recent years. However, the growing fiscal stress at the state level suggests that the 6.7% estimate may be too optimistic. The erosion in state fiscal health currently underway is likely contribute to a construction slowdown for institutional building and public works over the next few quarters.
More comprehensive data and a 2009 Outlook will be available in October at the McGraw-Hill Construction 70th annual Outlook Executive Conference in Washington, DC. The 2009 Outlook Report will include information on industry trends and a detailed economic forecast that will affect the construction industry in 2009. Get Your Competitive Advantage |
|
|
|
|
|
