Economists are predicting modest but continued growtn for the U.S. office construction market. FMI's 2014 U.S. Markets Construction Overview anticipates that construction put in place in the sector will be fairly flat this year but could beat 2013 by up to 4%. Jones Lang LaSalle foresees a 6% increase in office project completions this year. The New York-based project management consultancy Faithful+Gould points to decreasing vacancy rates as an indicator of growth, but says owners are likely to focus on upgrading existing buildings.
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