Daryl Delano, Reed Business Information

Early Dip in Nonresidential Spending Ominous

After recording 8.1 percent growth in 2000, nonresidential construction spending increased by an estimated 3.3 percent between 2000 and 2001. But total nonresidential construction spending through the first two months of this year ran 7 percent below the total of the same period in 2001, foreshadowing a slight decline expected for the year. The outlook for 2003 is considerably brighter, however.