Commercial construction spending flattens, economists predict downturn

02/13/2008 | Wall Street Journal, The

Fourteen months of growth in spending on commercial construction came to an end in December as spending flattened to a seasonally adjusted annual rate of $671 billion. With or without a recession, commercial construction will "go negative" this year, according to Edward Sullivan, chief economist of the Portland Cement Association. A number of major retail projects scheduled to begin this year have been canceled.

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