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It cited increased optimism in the fifth sector, construction, as a promising sign.
Residential and private sector construction was down, but government side wasn't.
The largest private sector construction will be in pharmaceuticals and medical technology companies.
"The reversal in fortunes has spanned commercial, residential and public sector construction projects.
"By the middle of the decade, around 2013 or 2014, I see an increase in private sector construction," he said.
Investors also will be looking next week to readings on the service sector, construction, factory orders and employment.
Similar(32)
The rest would be new private-sector construction, much of it envisioned along the city's waterfront, officials said.
The hiring of as many as 100,000 workers for each line has kept a lid on unemployment as private-sector construction has slowed because of limits on real estate speculation.
Andrew Vickery, a partner responsible for public-sector construction at the Trowers & Hamlins law firm, said 16 of the 26 local authority clients he represents that were included in the Morgan Sindall deal have decided against moving their contracts to Lovell, while a further seven are still undecided.
The strongest gains came in two of the most economically sensitive sectors: construction, and leisure and hospitality.
The company said the hardest-hit workers would be in two heavily indebted sectors, construction and retailing.
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