U.S. construction trend expected to grow slow in 2012

Associated Builders and Contractors (ABC)… released its 2012 economic forecast for the U.S. commercial and industrial construction industry. “ABC’s analysis of construction trends indicates 2012 will be a year of gradual progress as advances in private construction are partially offset by ongoing declines in publicly financed construction,” said ABC Chief Economist Anirban Basu.

“Nonresidential construction spending is expected to grow 2.4 percent in 2012 following a 2.4 percent decrease in 2011,” Basu said. “The pace of recovery in the nation’s nonresidential construction industry remains soft and 2012 is positioned to be a year of slow gain. The first half of 2012 may be particularly challenging, a reflection of the soft patch in economic activity experienced during much of the first half of 2011.

Click to read entire release: ABC predicts 2012 will be a slow year for construction (11-17-11)