Report: Construction spending to decline sharply in New York in 2009

12/30/2008 | Crain's New York Business

The New York area showed resilience in construction spending in 2008, but economic weakness is expected to send construction starts falling 19% next year, according to a new McGraw-Hill Construction report. The report predicted that nonresidential construction starts in 2009 will decline 21% to $11.6 billion. Meanwhile, non-building construction will fall 28% to $6.9 billion.

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