Contractors Pessimistic About Construction in 2010

Atlanta, GA, Jan. 22, 2010--A new survey by the Associated General Contractors group paints a pessimistic outlook for construction.

Almost nine in 10 contractors see no recovery for the construction industry this year.

Nearly half projected growth in 2011, 26 percent expect growth to begin in 2012 and 13 percent said don't see improvement until even later.

"Unfortunately for the industry and for our economy, this year's construction outlook is far from positive," Stephen E. Sandherr, the AGC's chief executive officer, said.

AGC polled nearly 700 construction firms, which forecast privately funded construction activity is likely to decline even further this year.

Seventy-one percent expect demand for new retail, warehouse and lodging facilities to drop.

Related Topics:Associated General Contractors of America