McGraw-Hill Construction Outlook Midyear Update Shows Starts Down 11 Percent

McGraw-Hill Construction, New York, has released its annual Construction Outlook Midyear Update, providing insight into the performance of the construction industry through the end of 2008. Key findings of the forecast, authored by Robert Murray, the company’s vice president of economic affairs, include:

  • New construction starts for 2008 are estimated at $558.5 billion, down 11 percent.
  • Single-family housing continues to weaken, with 2008 declines of 28 percent in dolla

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