AGC: Nearly 90 percent of contractors say industry will not recover in 2010

Nearly nine in 10 contractors say there will be no recovery in 2010 as part of a new national construction hiring and business outlook forecast released today [Jan. 20]  by the Associated General Contractors of America. As a result, fewer contractors plan to purchase construction equipment and after a year of near-record industry layoffs, many doubt they'll be able to hire new staff this year.

"Unfortunately for the industry and for our economy this year's construction outlook is far from positive," said Stephen E. Sandherr, the association's chief executive officer. "As long as the construction industry remains mired in its own depression, broader economic and employment growth will continue to lag," according to a Jan. 20 AGC of America release.