2014 Dodge Construction Outlook
For 2013, the forecast calls for total construction starts of $508 billion, compared to $485 billion in 2012. Initial estimates for 2014 construction starts are $555 billion - a 9% increase from 2013. The backdrop for the construction industry remains the hesitant U.S. economy. During the first quarter 2013 it was assumed uncertainty would ease with the presidential election decided and the fiscal cliff averted. However, the prolonged government shutdown in October 2013 dealt another blow to the economy and fueled uncertainty as the budget agreement only keeps the government running until January 15, 2014. On a hopeful note, there have been comments from lawmakers that they intend to avoid a repeat of what took place in October. We will see.....
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