Construction put-in-place exceeding 2012 levels

By |  April 8, 2013

The forecast for total construction-put-in-place for 2013 continues to show an increase of 8 percent over 2012 levels with an expected expenditure topping $900 billion, according to FMI’s first quarter construction outlook.

Residential building is showing the most promise, with a 23 percent rise in single-family buildings. Also, commercial, lodging and office construction are starting to pick up.

U.S. shale regions are particularly seeing a lot of construction activity, according to FMI. These regions are in need of housing, as well as the construction of roads, rail and pipelines to move the product from the fields to refining and distribution sites.

Residential construction single-family housing put-in-place grew 19 percent in 2012, and FMI expects another 23 percent growth to reach $161 billion by the end of 2013. Multifamily construction improved 47 percent in 2012, with FMI looking for another 31 percent in 2013.

Kevin Yanik

About the Author:

Kevin Yanik is the editor-in-chief of Pit & Quarry magazine. Yanik can be reached at 216-706-3724 or kyanik@northcoastmedia.net.

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