Overall nonresidential construction is expected to decline by 5.6 percent
Reuters reports that the U.S. economy stumbled badly in the first half of this year and came dangerously close to contracting in the January-March period. Also, Market Watch suggests Friday’s report on the pace of economic growth may be so weak as to spur talk of stagflation. While Derek Thompson writes about how a recent GDP report shatters the illusion of our current jobless, "productivity-packed" recovery.
Meanwhile the AIA reports that due to the slowed recovery and possible stagflation overall nonresidential construction is expected to decline by 5.6 percent this year, with no recovery until next year, according to the semi-annual Consensus Construction Forecast.
The good news? Health care construction is the only construction segment expected to grow in 2012, according to the American Institute of Architects.
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