Construction Will Stay Robust With Small Dip in 2001, Continued Rise in 2002
Total inflation-adjusted construction activity, already at a record high and likely to rack up a 1.3- percent increase this year, will dip 1.9 percent in 2001, then continue its upward track, rising by 1.3 percent in 2002. This forecast was presented by Bill Toal, chief economist for the Portland Cement Association, who addressed a National Press Club at CMD Group’s annual North American Construction Forecast in October.
The construction economy is benefiting from the strength of the overall economy, which will rise 3 to 3.5 percent in 2001, Toal said.