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The development of construction equipment distribution.
QUESTION:What is the development of the construction distribution ?
ANSWER: The value of new construction starts in 2006 increased a slight 2 percent to $678.9 billion, marking a change from the double-digit growth of 2004 and 2005. The overall pattern in 2006 was shaped by the steep decline for single-family housing, which pulled residential building down 11 percent. In contrast, nonresidential building jumped 18 percent, its largest gain so far this decade.
Boosting the nonresidential total was a surge of hotel projects, along with expansion for offices, schools, and healthcare facilities. Nonbuilding construction also contributed, rising 20 percent with heightened contracting for both public works and electric utilities.
In 2007, total construction is forecast to drop 5 percent to $641.7 billion, which would be the first current dollar decline since 1991. Single-family housing will continue to exert a downward pull on residential building, bringing this sector down another 16 percent. The dollar volume gain for nonresidential building, at 7 percent, will be smaller than last year. Nonbuilding construction is expected to see more modest 3 percent growth, as greater public works activity is offset by a slightly slower pace for electric utilities following last years surge.
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