| August 7, 2007 | Vol 2, Num 32 |
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Last week's poll results:
How familiar are you with the nonresidential component-based rating program (CMA) that NFRC is developing?
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38.75%: Never heard of it |
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31.25%: I've heard of it, but don't know details |
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16.25%: I don't attend meetings, but I keep up with CMA news and updates |
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13.75%: I'm involved in the process and know it very well |
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Financials
All economic drivers strong for nonresidential building
Leading economic indicators report overall construction market improvement in June, with steady growth predicted for the rest of the year, according to an Aug. 1 report from Reed Construction Data.
Commercial building starts hit record levels in June, with starts up 36 percent above last year for offices and retail stores. Institutional building starts are increasing at a 10 percent annual pace, with a strong performance in the hospital and health care building segment, according to the report.
Increasing numbers for income, consumer spending, jobs and capital spending indicate that the upward construction trends will continue over last year, according to the report.
Despite positive signs of overall construction growth, negative indicators in the housing market will likely plague the residential building market for the rest of the year, according to the report.
For the full building forecast, click here.
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