Electrical contractors see market decline
Analysts are watching spending on school, hospital, and transportation construction.
Source: Associated Press
to a story by the Associated Press , commercial markets
for electrical mechanical contractors, particularly in the office and
hospitality sectors, remain under pressure and could continue to weaken next
year, an analyst said July 9.
Tahira Afzal of KeyBanc Capital Markets said although public nonresidential
spending "remains largely intact as of now, we are seeing a more mixed
outlook on the institutional side."
said she is watching spending on school, hospital, and transportation
construction, and that slower stimulus spending is more of a concern now than a
few months ago. In addition, commercial vacancies are expected to become worse,
limiting speculative construction of offices, she said.