Construction industry is broadly upbeat on next year’s prospects

January 6, 2010
According to KPMG’s annual "Global Construction Survey," the global engineering and construction industry is broadly upbeat on next year’s prospects.

"The bottom line is the nonresidential construction recession is largely over, but 2011 will be associated with grudgingly slow progress,” said ABC Chief Economist Anirban Basu. In terms of segments poised to experience construction spending growth in 2011, ABC projects that power will lead the way, with spending rising by an anticipated 5.5 percent. Segments positioned for decline include those that are closely linked to state and local government spending.