Commercial building loans and their supporting activity are edging toward pre-recession levels. As of mid-year 2013, U.S. banks had issued just short of $1 trillion dollars in commercial real-estate loans, up almost 4% from a year earlier, according to official sources.
While much of America’s future economic dynamism has been riveted on the overdue upgrading of the nation’s infrastructure (pipelines, bridges, dams, railroads and highways), little has been heard lately regarding commercial and industrial construction.
With the traumatic impact of outsourcing jobs and production, especially by America’s manufacturing giants, it may come as a surprise to many that the United States is still the world’s No.1 generator of manufactured goods production at $1.8 trillion annually.
2013 construction industry apprehensive as Obama II beckons. With the second Obama presidency secured for four more years, the construction industry, specifically the depressed housing sector, is taking a wait-and-watch attitude before projecting definitive commitments for 2013 growth potential.