Here’s an interesting survey/press release from the AGC about what state contractors are saying about how long it will take before the construction industry recovers. Further details can be found at this (link).
The rebound for the construction industry is still a couple years away, according to a poll of Washington State contractors by the Associated General Contractors (AGC) of America.
When asked, “When do you expect the construction market to grow again?”, 45 percent of contractors polled in Washington State said 2013; 34 percent said 2012; 14 percent said 2011 and seven percent said 2014.
Washington State contractors have a more pessimistic view than those in other states. On a national level, the largest slice of contractors surveyed (48 percent) believe that 2012 will be the year the industry grows again.
On a more positive note, the construction industry in this state has clearly stabilized. More firms (26 percent) plan to add staff than lay off staff (16 percent) in 2011. In 2010, a whopping 67 percent of firms laid off staff, and only 19 percent added staff.
A majority of respondents felt that the dollar volume of most construction sectors would be the same or better than last year. However, 55 percent expect the retail/lodging/warehouse sector to be lower, and 67 percent expect private office construction to be lower.
In another positive sign for the industry, no respondents plan to adjust bids in 2011 so that a project is built at a loss. In 2010, seven percent said they were bidding projects at a loss. Last year 84 said they were adjusting their bids so that profits would be smaller; for 2011 only 33 percent said they were adjusting bids for smaller profits.
The survey was released January 24, 2011 by the Associated General Contractors of America and Navigant.