Nonresidential construction spending is expected to grow by a scant 2.4% next year following a 2.4% decrease in 2011, said Anirban Basu, chief economist for the Associated Builders and Contractors (ABC). The pace of recovery in the nation’s nonresidential construction industry remains soft and 2012 is positioned to be a year of slow gain. The first half of 2012 may be particularly challenging, a reflection of the soft patch in economic activity experienced during much of the first half of 2011. Nonresidential building construction employment is expected to increase 0.4% in 2012 following lackluster 0.6% growth in 2011, as employers continue seeking increased productivity among existing workers in order to boost weak industry margins.For the full report, CLICK HERE.
