Report: Decline in construction spending to continue

09/22/2009 | · American City Business Journals

Construction spending will not start posting gains again until 2011, according to an IHS Global Insight forecast. The forecast predicts that spending will fall 12% this year and 4% in 2010. The report noted that the outlook for nonresidential construction is weak because of sharp declines in occupancy rates. Residential construction, however, will expand in the second half of 2009.

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