Commercial construction spending is down this year

07/14/2010 | Reuters

Spending on commercial construction is expected to fall 20.3% this year, before slightly rebounding in 2011, according to the American Institute of Architects. The group cites declining demand and property values and tight credit as reasons for the decline. Industrial companies that could be affected by the decreased spending include Caterpillar, Eaton, Deere and Parker Hannifin.

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