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Dodge/Sweet's construction volume outlook for 1993.

R A Murray

    Architectural Record
    |October 5, 1992
    PubMed
    Summary
    This summary is machine-generated.

    The construction industry

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    Area of Science:

    • Construction economics
    • Economic recovery analysis

    Background:

    • The construction industry experienced a significant downturn post-1980s.
    • Factors contributing to the crash included commercial overbuilding, a banking crisis, and federal budget deficits.

    Purpose of the Study:

    • To analyze the unique nature of the construction industry's recovery following the post-1980s crash.
    • To examine the interplay between cyclical recovery and structural economic changes.

    Main Methods:

    • Analysis of economic conditions in the construction sector.
    • Review of historical data from the 1980s and early 1990s.
    • Forecasting future trends based on observed patterns.

    Main Results:

    • The recovery was not a simple return to pre-crash conditions.

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  • Economic recovery occurred within a context of significant structural economic changes.
  • Observed trends in 1992 indicated a complex recovery pattern.

    • Conclusions:

    • The construction industry's recovery is characterized by both cyclical patterns and fundamental structural shifts.
    • Future recovery will likely continue to be influenced by these combined factors.
    • Understanding this dual nature is crucial for predicting industry performance.