Construction spending hasn't been this low since 2002

04/2/2010 | Bloomberg Businessweek · Google

Construction spending fell for the fourth straight month in February, suggesting that the real estate market will continue to hamper the U.S. economy. With spending at its lowest level since 2002, analysts say contractors have cut back in numerous areas: homebuilding, commercial ventures and government public works projects. Commerce Department figures for February showed a 1.3% decline in construction -- to $846.2 billion -- the lowest spending level since November 2002.

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Bloomberg Businessweek · Google

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