McGraw-Hill Construction Expects 9% Growth in Total Construction for 2014

Two of the economists on the program, Robert Murray, McGraw Hill Construction’s V.P. of economic affairs, and Beth Ann Bovino, chief U.S. economist for Standard & Poor’s, both expect the oil-shale boom to continue to drive long-term economic growth by offering less-expensive energy that the United States can export offshore and use to lure manufacturing back to this country.  Standard & Poor’s Bovino was particularly encouraged by the housing recovery, and said even though some of the growth over the last few years has been off the charts in some local markets, higher interest rates will keep another housing bubble at bay. Dean Oskvig, president of Black & Veatch’s Energy Business, said Black & Veatch believes that under the right regulatory circumstances natural gas could go from providing 28% of the U.S.’s net electricity in 2013 to 57% in 2037.

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