Housing and office construction are no longer a drag on the economy. In the fourth quarter, residential construction rose by 3.8 percent, while investment in office buildings rose 0.8 percent, the first time it has risen in more than two years.
The big question is whether commercial construction will continue to revive, says Wyss. “Vacancy rates are still too high,” he cautions.
However, at least the construction sector won't be a heavy anchor on the economy from this point on. “It won’t be much of a help, but you take what you can here,” he says.
