Economics
Construction: A Tale of Two Sectors
Solid economic growth continues to fuel a surprising boom in nonresidential construction, while homebuilding's woes worsen
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Is there a building boom in the U.S.? It depends on which segment of the construction industry you're looking at.
A surprising array of major U.S. macro indicators—consumer spending, factory activity, corporate profits, and trade—continues to defy expectations of an economic slowdown. And that strength is also fueling a hefty boom in the nonresidential construction market. But good news for the builders of office buildings and schools hasn't filtered through to the economy's one nagging weak spot: the housing market.