WALL STREET - Investment firm group Goldman, Sachs last month said that United Rentals, the leading equipment rental network, and "other well-positioned rental companies should continue to experience a healthy operational tailwind in 2000 that will support strong internal growth."
The recommendation cited favorable forecasts that 2000 will produce another record year of construction spending.
Nonresidential construction spending is forecast to grow 7 percent this year, just slightly below the 8 percent year-over-year growth reported last year, according to the Commerce Department.
Construction awards from industrial manufacturers are projected to climb 8.5 percent this year, up from 5.4 percent in 1999, according to F.W. Dodge.
"These positive cyclical construction spending trends are being enhanced by stronger and more important secular growth trends that have made increasing numbers of equipment renters out of equipment owners over the last several years," the report said.
