Economist: Forecast flat for remainder of 2011

11/14/2011 | Business Insurance (tiered subscription model)

The total value of all construction dropped from $1.167 trillion in 2006 to $803.62 billion in 2010, resulting in a loss of 2.2 million jobs for the industry, a 28% decline from 2006 to 2010, according to the Bureau of Labor statistics. Spending for the rest of 2011 will be fairly flat, according to Ken Simonson, chief economist at Associated General Contractors of America. He also forecasts a decline in public spending as federal-stimulus projects wind down.

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