Report: Mixed outlook for construction industry

09/23/2009 | American City Business Journals

IHS Global Insight predicted in its Third Quarter Construction Briefing a 12% drop in construction spending this year. The firm also forecast a 4% decrease next year. "While the outlook for nonresidential construction is weak for this year and next, residential construction -- driven by a single-family market verging on recovery -- is expected to expand in the second half of 2009, climbing 2.1%, quarter on quarter, in the third quarter and 4.8% in the fourth," according to the report.

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