Reed Construction Data is a leading construction information source that provides accurate and reliable project leads and marketing intelligence. Early this year, they provided an extremely valuable outlook for the construction segment. This outlook analyzed construction spending from 2005 – 2012, including future projections. In the analysis, there were distinct changes in the total amount spent along with how those funds were allocated.
As you can see, total spending decreased 23%, with a large shift in funds being allocated to Nonresidential Building. Commercial construction turned around in 2012 and is expected to continue to improve.
Nonresidential building construction has struggled lately, but is expected to perform better in the second half of 2013 and in 2014. The segments that will account for the majority of this spending will be Commercial, Office, Education, Manufacturing,
Despite the considerable challenges, the outlook for heavy engineering construction is fairly positive. So they are forecasting an upward trend within Heavy Engineering Spending in late 2013 and 2014. Which is good news for the new and used equipment dealers.