WASHINGTON

ACCORDING TO THE U.S. DEPARTMENT OF COMMERCE, CONSTRUCTION WILL RISE 6.5% IN 1973, TO A RECORD LEVEL OF $130 BILLION. HOMEBUILDING WILL DECLINE, BUT COMMERCIAL, INDUSTRIAL, AND PUBLIC CONSTRUCTION WILL RISE SHARPLY. PUBLIC CONSTRUCTION WILL INCREASE $3 BILLION, TO $34 BILLION; THIS 10% INCREASE IS THE LARGEST ANNUAL GAIN SINCE THE MID-60'S. HOSPITAL CONSTRUCTION WILL EXHIBIT THE FASTEST GROWTH IN THE NONRESIDENTIAL SECTOR, WHILE EDUCATION WILL DROP. PUBLIC UTILITIES WILL INCREASE 10%, LED BY ELECTRIC POWER. A LARGE RISE IN SPENDING FOR NEW WATER SUPPLY AND SEWER SYSTEMS WILL BOOST THE VOLUME OF STATE AND LOCAL PUBLIC CONSTRUCTION. HIGHWAYS, LOCAL TRANSIT, AND AIRPORTS WILL SHARE IN THE UPSWING. IN COMMERCIAL CONSTRUCTION, THE SERVICE INDUSTRIES WILL CREATE NEW FACILITIES FOR THE LARGE NUMBER OF HOMES AND COMMUNITIES BUILT IN 1971 AND 1972; OFFICE BUILDINGS WILL MAINTAIN THEIR STEADY GROWTH. PLANT CONSTRUCTION IS FORESEEN AS ONE OF 1973'S BIG GAINERS. A REVIEW OF 1159 WAGE AGREEMENTS INDICATES THAT THE 11--19% INCREASES OF 1970 AND 1971 ARE A THING OF THE PAST. WAGE BOOSTS OVER THE PAST TWO YEARS HAVE AVERAGED 5.6%, CLOSE TO THE 5.5% SET BY THE PRESIDENT'S PAY BOARD.

• Authors:
  • Wecksler, A N
• Publication Date: 1972-12

Media Info

• Pagination: p. 15
• Serial:
  • Construction Equipment
  • Volume: 46
  • Issue Number: 6

Subject/Index Terms

• TRT Terms: Construction industry; Trend (Statistics)
• Subject Areas: Construction; Highways;

Filing Info

• Accession Number: 00215617
• Record Type: Publication
• Files: TRIS
• Created Date: Mar 13 1973 12:00AM