A Silver Lining
Earlier this month, the chief economist for the Associated Builders and Contractors (ABC), Anirban Basu, noted during a press conference that a recovery of the nation’s construction industry may be as far as two years away.
In even more deflating news, Basu predicted that nonresidential construction will likely see an even further delay.
Now, as promised by the title of this blog post, there is indeed a silver lining. Basu said that while the economy has hit a soft spot and the construction job picture is flat, one segment is due to see growth in the next 10 to 12 months: healthcare.
Over the past 12 months, healthcare was one of just four construction segments that saw growth in spending, coming in second only to conservation and development, which is comprised primarily of federally financed projects.
Looking forward, Basu expects an even further uptick in the construction of hospitals, health centers, and clinics.
To watch a recorded version of the 2011 Mid-Year Construction Forecast, go here.