Wednesday, May 25, 2011
No consensus for 2nd quarter GDP growth
The Reed construction spending outlook is based on GDP growth of 2.4% this quarter, 2.5% for 2011 and 3.1% for 2012. This is below the average of all forecasts for the current quarter but near the average for 2011 and 2012. Compared to the more pessimistic GDP forecasts, the Reed economic and construction outlook expects a quicker and stronger recovery in nonresidential building construction and less falloff in heavy construction. Compared to the more optimistic GDP forecasts, the Reed economic
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