7/13/2009

Commercial construction spending in the U.S. will decline 16% in 2009, according to the American Institute of Architects. That's a greater decline than the 11% drop predicted earlier this year. The group revised its previous forecast after evaluating rising unemployment and business spending cuts. It now expects commercial construction spending to decline 12% in 2010. It previously predicted a 5% decline for 2010.

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Bloomberg

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