Canadian Consulting Engineer

Construction activity down 46% from 2001 in the U.S.

A U.S. economist has predicted a dismal year ahead for non-residential construction. Ed Sullivan, chief economist f...

December 20, 2002   Canadian Consulting Engineer

A U.S. economist has predicted a dismal year ahead for non-residential construction. Ed Sullivan, chief economist for the Portland Cement Association, advised its members that the total construction market in the U.S. will decline in 2003, continuing a trend started in 2002.

The industrial sector in the U.S. has a 46 per cent year-to-date decline in 2002 compared to 2001, and the Portland Cement Association expects it to decline another 18 per cent in 2003, with no recovery expected until mid-2004.

Office construction is down 29% from 2001, partly as a result of the technology sector collapse and overbuilding. In the retail sector there is also a surplus of space, with a 8.3% decrease in activity in 2002.

Two sectors look more promising for 2003: the residential and public buildings sectors. Construction activity in public buildings in 2002 was 4.8 per cent higher than the year before, and is expected to remain level in 2003.


Print this page

Related Stories

Leave a Reply

Your email address will not be published. Required fields are marked *

*