Non-Residential Construction Forecast

Here are some numbers that you should pay attention to because they reflect how aggressively businesses may invest in new facilities and equipment over the next three quarters.

It is expected that nonresidential construction (business plus institutional investment) will grow by 2.7% and 6.5% in the third and fourth quarters of this year respectively. This is up considerably over the -4.2 to -5.9% rates that hovered throughout 2002 and the first quarter of 2003. By the first quarter of 2004, nonresidential construction is expected to grow at a 7.3% rate.

These are fairly respectable numbers and they indicate that more expansions deals are headed to American communities in the foreseeable future. Let's keep our fingers crossed.

Source: Economy.com. (If you are a subscriber.)