Construction industry braces for slowdown in 2009
The construction industry will face a serious slowdown in 2009, as developers struggle to secure loans for new projects, industry observers say. Up to 400,000 workers will lose their jobs or remain out of work next year, as the pipeline for new projects quickly dries up. The Architecture Billings Index hit another record low in November for the second consecutive month. The ABI fell to 34.7, a slip of 1.5 points from October. Washington Post, The (12/17), Reuters (12/17)