2012 Construction Industry Review
What areas of construction have seen a decline in the past year?
Almost every sub-sector of the public sector has seen a decline. Contractors say key publicly funded segments such as highway and transportation markets have been hit the hardest.
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The value of bridge work is expected to drop by 10% from $26.3 billion to $23.6 billion in 2012, while the value of work on airport runways is expected to fall 4% from $4.9 billion in 2011 to $4.7 billion. After a decade of growth, subway and light rail construction is expected to drop nearly 16% from $5.4 billion to $4.6 billion as transit agencies pull back on projects.
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