2009 Forecast: Only Education and Multi-Family Up in WA State
The overall level of construction starts nationally in 2009 will slide another 7 percent to $515 billion after the 12 percent decline in 2008 predicted Robert Murray McGraw-Hills Vice President for Economic Affairs in his annual construction outlook.
Regarding unprecedented federal efforts to deal with the financial crisis Murray said these efforts will take time to have an impact. The news about the economy will show continued weakness he said. After 1.6 percent expansion in 2008 the U.S. economy is anticipated to grow just one percent for the full year 2009. The GDP reading at the start of 2009 will be flat to negative but with improving liquidity in the financial markets GDP growth should move back to the two to three percent range by years end.
Below is Murrays 2009 forecast for construction starts in Washington State:
| 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | |
| Education | $892566 | $1131164 | $1180321 | $1403886 | $1088563 | $1275857 |
| 126.7% | 104.3% | 118.9% | 77.5% | 117.2% | ||
| Government | $251408 | $211689 | $363061 | $187040 | $281463 | $238110 |
| 84.2% | 171.5% | 51.5% | 150.5% | 84.6% | ||
| Health | $288568 | $613961 | $437792 | $641052 | $640359 | $606580 |
| 212.8% | 71.3% | 146.4% | 99.9% | 94.7% | ||
| Highways | $663692 | $781888 | $727363 | $877778 | $869143 | $783982 |
| 117.8% | 93.0% | 120.7% | 99.0% | 90.2% | ||
| Hotels | $130707 | $220800 | $364518 | $237394 | $294078 | $235377 |
| 168.9% | 165.1% | 65.1% | 123.9% | 80.0% | ||
| Manufacturing | $566712 | $215315 | $228193 | $210919 | $121674 | $126392 |
| 38.0% | 106.0% | 92.4% | 57.7% | 103.9% | ||
| Multi Family | $805277 | $1040867 | $1975551 | $1898104 | $1058373 | $1010305 |
| 129.3% | 189.8% | 96.1% | 55.8% | 95.5% | ||
| Office | $472303 | $337649 | $869335 | $1091670 | $1043587 | $852510 |
| 71.5% | 257.5% | 125.6% | 95.6% | 81.7% | ||
| Retail | $418528 | $423773 | $563693 | $733843 | $549245 | $467537 |
| 101.3% | 133.0% | 130.2% | 74.8% | 85.1% | ||
| Single Family | $6490588 | $8058816 | $7424830 | $6487973 | $3890406 | $3771726 |
| 124.2% | 92.1% | 87.4% | 60.0% | 96.9% | ||
| Water Supply | $164226 | $193005 | $266181 | $300791 | $279028 | $250642 |
| 117.5% | 137.9% | 113.0% | 92.8% | 89.8% | ||
| Total | $14129734 | $17064554 | $18722572 | $19317146 | $14065856 | $13050343 |
| 120.8% | 109.7% | 103.2% | 72.8% | 92.8% |