9/11/2013

The Pentagon's August contract awards were little changed from a month earlier, following a steeper decline earlier in the summer as sequestration cuts began making themselves felt. The Defense Department awarded $17.6 billion in contracts in August, 1.7% higher than the previous month and 34% less than in August 2012. The value of Pentagon awards plunged 55% from June to July. Some expect that budget uncertainty will cause the DOD to make more modifications to existing contracts than to issue new ones.

Full Story:
Bloomberg

Related Summaries