FMI Building Outlook Bullish on 2003

The U.S. construction economy has been a pleasant surprise to many because it has proven to be resilient to rising layoffs and wavering consumer confidence levels during the past year. Unfortunately, underlying drivers such as home affordability, office vacancy rates and industrial capacity-utilization rates are not likely to be as favorable for the remainder of the year. But look for a healthy rebound in many building sectors in 2003.

U.S. construction spending fell 0.9 percent in Ma

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