The second quarter of 2009 has shown little, if any change in the overall construction outlook. There have been some positive indicators early in the quarter both in the broad economy and in the construction sector specifically, such as growth in consumer confidence and commodity prices, and a modest improvement in the Architect Billing Index. On the other hand, the general economic outlook is still quite gloomy, with a general consensus among economists that the effects of the recession still have several months to run.
Across the nation, construction activity remains weak, and almost universally lower than this time last year. Of the 50 states, only two are showing growth in activity, year on year, while thirty five are showing double digit falls in activity. Altogether a total of 1.7 million construction jobs have been lost since the peak monthly employment in the summer of 2006, and year to date spending through May 2009 is $50 billion less than year to date in May 2008.