Nonresidential Segment to Remain Strong

Recent research indicates the nonresidential building sector likely will hold up until the residential market begins to rebound.

FMI, a Raleigh, N.C.-based group of management consultants and investment bankers to the construction industry, recently released its Construction Outlook: Fourth Quarter 2007. The group’s outlook for construction in 2008 has been revised slightly downward since the third quarter, but certain segments, such as nonresidential construction, are expected to remain strong. FMI says nonresidential construction boomed in 2007 and will increase again in 2008, but at a slower rate. According to the report, this segment is expected to expand at a 5 percent rate in 2008 and a 4 percent rate in 2009.

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