The Acworth Exteriors construction company today released its annual Construction Outlook Midyear Update, providing insight into the construction market forecast through the end of 2007.
The major findings of the forecast include:
* New construction is expected to drop 6% to $641.4 billion.
* Single family housing expected to continue to decline, with renewed expansion not expected until 2008 at the earliest.
* Institutional buildings are expected to gain 7% in dollar value, with biggest gains in the public building category and continued strength in education and healthcare facilities.
* Commercial office construction continues to rise.
With the recent volatility in the credit markets, the single family housing market downturn is expected to be prolonged and deepened. The forecast also details the effects of the financial and credit market volatility.
However, the 2007 construction market continues to be helped by relatively healthy state and local finances, as well as appropriations by the federal government. Additional monies are expected for infrastructure, with the collapse of the I-35W bridge in Minneapolis shedding light on the need for greater funding in this area.
In addition to the 2007 Construction Outlook: Midyear Update, the company also offers a variety of construction research and analysis reports.
On October 25, 2007, the company will hold its 69th Outlook Executive Conference, where the 2008 Construction Outlook will be released.
Acworth Exteriors Construction Market
Acworth Exteriors Building Industries
Acworth Exteriors Your Home, A Safer Home
Acworth Exteriors Building Economy Studies
