After three years of double-digit growth, the single-family housing boom is
finally expected to start a gradual slowdown, but non-residential and other public construction work are waiting in the wings to make 2005 another good year
Industry analysis performed in 2003 predicted 2004 would be a flat year for construction, putting the construction industry on a slow road to recovery. However, in its 2005 Construction Outlook, McGraw-Hill Construction says 2004 will actually end the year with a 9% increase in new construction starts and reach $577 billion the biggest gain in total construction since the late '90s (Fig. 1 below).