Scarce credit, high lending costs slow construction
Higher borrowing costs and limited credit are two of the effects of the financial crisis -- each of which affects construction. Meanwhile, the Organization for Economic Cooperation and Development predicts U.S. economic activity will decline by 0.9% in 2009, and commercial construction is expected to decline 12% from last year's levels, according to McGraw-Hill.
Buildings magazine | 01/2009
This story published in AGC SmartBrief on 01/06/2009
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