Construction downturn will persist through 2009, observers say
The stock market recently gained ground on news that construction spending in November declined less than expected at 0.6% from the previous month. However, some analysts warned that the Commerce Department numbers fluctuate from month to month. "They don't do anything to change the basic story for CRE, which is that construction activity is expected to continue to drop throughout 2009," said Bob Bach, a senior vice president with Grubb & Ellis.
GlobeSt.com
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This story published in AGC SmartBrief on 01/07/2009
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