Nonresidential construction hits lowest point since August

02/24/2010 | Reuters

The Architecture Billings Index, a key measure of U.S. nonresidential construction spending, fell 2.9 points to 42.5 last month -- its lowest level since August 2009. The drop-off is attributed to commercial and industrial construction projects that have been delayed or canceled. Caterpillar, Parker-Hannifin, Manitowoc and Eaton are all companies that sell to -- and therefore derive some of their income from -- the construction market.

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