Trends & analysis: Nonresidential construction to enter ‘muted’ growth phase in 2012
Nonresidential construction and housing will enter the growth phase of the economic cycle in 2012 and remain there through 2013, according to analysts at the Institute for Trend Research, Concord, N.H.
“Nonresidential construction is moving up; so is housing,” says Jeff Dietrich, senior analyst, ITR. “They are both entering this green [growth] phase where things are improving every month on a year-over-year basis. … The challenge is the growth will not necessarily be new construction—we won’t see a boom like we did in 2004, 2005 and 2006. This will be remodeling/ retrofitimprovements. And there will be some more new construction.”