Reuters.com: U.S. construction industry in doldrums -survey
January 28, 2010
By Andrew Stern
Reuters.com: CHICAGO, Jan 20 (Reuters) - A survey of U.S. companies that build highways, buildings and sewers found nine in 10 predicting their business will not rebound in 2010 from depressed levels, a trade group said on Wednesday.
Based on the responses of some 700 contractors across the United States, 88 percent of the firms do not expect overall conditions to improve before 2011 and some will likely go out of business, the Associated General Contractors of America said.
"It means the construction industry is in for another difficult year in 2010," Stephen Sandherr, the trade group's chief executive, said in a conference call.
The industry is widely considered a bellwether for the economy as an indicator of spending on infrastructure, rebuilding and business expansion, and it has a ripple effect in terms of purchases of construction materials and equipment.
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