U.S. Construction Forecast Tables – Issued September 2007 – Total Spending -1.0% in 2007 and +8.3% in 2008

Jim Haughey -- September 12, 2007

Based on job-site activity levels through July 2007, Reed Construction Data (RCD) now expects total U.S. construction spending to be down -1.0% in 2007 versus +5.3% last year. Total residential investment (new and improvements) will decline -14.4% in 2007 (versus a flat figure of +0.1% in 2006) as housing starts will fall -20.3% this year (versus -12.9% last year). Non-residential building put-in-place investment is now expected to increase +16.6% in 2007 (versus +12.7% in 2006). Non-building (heavy engineering) work will grow +12.4% in 2007 (versus +11.5% in 2006.) Further ahead, RCD's outlook for 2008 total construction spending now stands at +8.3%.

Please also see RCD’s Web story entitled: “Woes in Single-family Housing Lower Overall 2007 Construction Forecast”.