A Tale of Two Markets
While much of the current focus is on the slump in the residential markets, non-residential construction, particularly within the lodging, communication and power sectors, continues to experience robust growth. In July, private non-residential construction grew 15.7% over July of 2006 at a seasonally adjusted annual rate of $346 billion. Over the same period, five of the eleven non-residential sectors (representing 72% of total nonresidential construction), grew an average of 10.6%. Other smaller sectors of note include the lodging and communication industries, up 58% and 23%, respectively. By comparison, new construction in the residential sector declined 16.1% over the same period. Read More.
Friday, October 19, 2007
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