McGraw-Hill Construction Releases 2007 Construction Outlook, SMPS Members Get Discount on Report

On October 27, 2006, at its 68th annual Outlook Executive Conference, McGraw-Hill Construction, part of The McGraw-Hill Companies (NYSE: MHP), released its 2007 Construction Outlook. The forecast is that the 2007 construction market will be a mix of pluses and minuses, with the net result that the forecast for total construction is $668 billion, a modest 1% decline. 

The forecast will be influenced by the deflation of the single-family market, which boomed from 2000–2005, remaining high until 2006, until it deflated at a faster rate than expected. “Single-family housing has fallen more steeply than what we had anticipated and the correction is taking place faster,” states Robert Murray, McGraw-Hill Construction Vice President of Economic Affairs and Chief Economist. He continues, stating that the construction industry “no longer has single-family housing to bolster total construction.”

Despite this 5% forecasted decrease in single-family housing, the construction industry will have several growth sectors. Specifically, institutional buildings will advance 7% in dollar volume and 4% in square footage. Manufacturing building is expected to rise 14% from a lackluster 2006 performance, and public works construction will grow 5% on top of the 10% increase in 2006 due to highway and bridge construction, as well as environmental projects.

For the complete 2007 Construction Outlook, go to http://construction.ecnext.com/coms2/analytics_smps.   

As a member of SMPS you can receive a 25% discount on McGraw-Hill analytics reports. Enter the code SMPS25A at checkout to receive your discount. [ return to top ]