In our inaugural, January newsletter, “2013 Construction Forecast,” we took an in-depth look at our nation’s economic health, spotlighting commercial construction sectors. Economists predicted noticeable growth of the construction industry and the economy as a whole. At the start of the year, there was already reported growth in most sectors and what appeared to be an increase in their overall financial health.
It was estimated that there would be a 6% increase in construction within the United States. This figure, according to the 2013 Dodge construction Outlook, was slightly higher than what had been previously predicted for 2012. With the first half of the year behind us, economists remain hesitant with “wait and see” attitudes.
Economists were “cautiously optimistic” at what the current year would bring, and viewed the construction industry as a good thermometer for the nation’s economic health. After all, this month marks the fifth year of recovery with the country on an economic rebound. CDG Builders anticipated growth for the upcoming year as well, with volume having increased noticeably in 2012.
The first quarter saw little national growth, and, while major construction sectors remained in the positive, the expectation for the remainder of the year was good, but not great. (continued.)