Mid-year forecast sees 2002 dip, 2003 rebound

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The U.S. construction industry is pacing 2002 with a 1.6 percent drop from record 2001 levels, but appears set for a rebound of nearly the same percentage next year, according to long-time cement and concrete industry economist Bill Toal. In a mid-year outlook briefing hosted by the Construction Market Data Group, he noted that while some sectors remain weak, the economy is showing signs of improvement. Strong or stable construction markets that are keeping shipments of cement and concrete near record levels, he adds, include residential, education, and transportation and environmental infrastructure.

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