All sectors down except residential, which after a brutal 51% decline in 2008, is expected to gain 3% in 2009
New York – January 21, 2009 – McGraw-Hill Construction, part of The McGraw-Hill Companies (NYSE: MHP), has released the 2009 Chicago Construction Outlook. The study forecasts a 25% decline in 2009 total construction starts to $13.7 billion for the Chicago metropolitan area, including Chicago-Naperville-Joliet, IL; Kenosha County, WI; and Gary, IN.
Highlights of the report conclude:
- Residential construction, which saw large losses (51%) in both the single and multifamily sectors in 2008, will see a modest 3% gain in 2009 to $4.5 billion.
- Nonbuilding construction starts are expected to dip mildly (1%) in 2009.
- Nonresidential building starts will grow 38% this year, due to four sectors: manufacturing, education, healthcare, and public buildings, but in 2009, this will be reversed as nonresidential starts fall 45%.
In addition to the 2009 forecast, the report provides in-depth construction analysis by major sector, as well as construction starts for the area dating back to 2003 in more than 10 major categories, including stores and shopping centers, offices, hotels, manufacturing buildings, educational buildings, healthcare, public works, utilities, and multifamily and single family housing.
To purchase and immediately download a copy of the report, visit http://www.analyticsstore.construction.com or call 1-800-591-4462 for more information.
Media may contact Lisa Jaycox at 212-512-3272 or lisa_jaycox@mcgraw-hill.com for complimentary copies of McGraw-Hill Construction reports.
About McGraw-Hill Construction
McGraw-Hill Construction connects people, projects and products across the design and construction industry. For more than a century, the Company has remained North America’s leading provider of construction project information, plans and specifications, product information, industry news, and industry trends and forecasts. In print and online, the Company offers a variety of tools, applications, and resources that easily integrate with its customers’ workflows. Backed by the power of Dodge, Sweets, Architectural Record, Engineering News-Record (ENR), GreenSource and 11 regional publications, McGraw-Hill Construction serves more than one million customers within the $4.6 trillion global construction community. To learn more, visit www.construction.com.
About The McGraw-Hill Companies
Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands including Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2007 were $6.8 billion. Additional information is available at www.mcgraw-hill.com.
# # #
Media Contacts:
Lisa Jaycox, Communications Specialist
The McGraw-Hill Companies Information & Media
+1 212-512-3272
lisa_jaycox@mcgraw-hill.com
Kathy Malangone, Senior Director, Marketing Communications
McGraw-Hill Construction
+1 212-904-4376
kathy_malangone@mcgraw-hill.com
© The McGraw-Hill Companies, Inc. All Rights Reserved
