ENR: Economy Derailing School Building Market Engineering News-Record, reports how the weak economy and declining housing market is adversely affecting school construction — one of the industry's strongholds.
As a result, McGraw-Hill Construction (MCH) analysts have lowered its forecast for the 2008 school construction market from the 7% increase that it predicted last October to just 2% gain this year.
On a square-foot basis, MHC is now looking for school construction to decline 1% in 2008. Just six months ago, it was looking for a 5% increase in physical volume.
