Posted 1/27/2014 12:00 am
Construction values in central Arkansas are continuing their slow climb out of the trough of the Great Recession, according to the latest “Metro Trends” report from Metroplan, the planning agency for Pulaski, Faulkner, Saline and Lonoke counties.
In “Metro Trends: Economic Review and Outlook,” the agency examines the region’s rate of economic recovery four years after the official end of the Great Recession in June 2009.
In 2012, local construction values rose 21 percent compared with the previous year. However, “since 2011 construction values were the lowest since 1993, this was a modest achievement,” the report says.
“Adjusted for inflation, local construction remains well below its levels from the 2002-2008 construction boom, but now roughly matches levels from the late 1990s,” the report says.
Nonresidential construction values, which rose 37.5 percent, saw the biggest gains; new residential construction increased 10.8 percent.
For more information, visit Metroplan.org.