U.S. Construction Forecast October 19, 2007

Reed Construction Data (RCD) now expects total U.S. construction spending to be down -1.7% in 2007 versus +5.3% last year. Total residential investment (new and improvements) will decline -14.5% in 2007 (versus -0.1% in 2006) as housing starts will fall -21.2% this year (versus -12.9% last year). Non-residential building put-in-place investment is now expected to increase +16.6% in 2007 (versus +12.7% in 2006). Non-building (heavy engineering) work will grow +11.5% in 2007 (the same percentage increase as in 2006.) Further ahead, RCD's outlook for 2008 total construction spending now stands at +7.1%.

Source: Reed Construction Data

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