Economic weakness is pulling down construction activity

 

By the end of the year, the consensus is that the economy will have begun a recovery, likely however to be quite mild at least initially. - Courtesy of www.nycustomhomes.com

The downturn in the broader economy is limiting the need for new nonresidential facilities. The U.S. gross domestic product (GDP) declined by more than 6 percent on a seasonally adjusted and annualized basis in the fourth quarter of last year, and by almost 6 percent during the first quarter of this year.