A mid-year preview of nonresidential construction.

Nonresidential construction has sagged along with the economy; and, while the worst may be over, each sector will recover at its own pace. Commercial construction suffered from overbuilding and credit problems and may take several years to recover; though retail building, which benefits from new housing, will recover before hotel and office construction. Industrial construction should recover a bit sooner, perhaps by early 1993. Institutional construction, which was least affected by the recession, will continue to grow, albeit slowly, due to tighter state and local budgets.

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