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Posted: 6:53 PM Jan 5, 2009
Contracts For Construction Spending Drop In November
Contracts for construction spending drop in November nationwide, but not as much as originally feared.
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Contracts for construction spending drop in November nationwide, but not as much as originally feared.
Record activity on commercial projects helped to offset a steep decline in housing. Housing construction dipped 4.2%, but non-residential activity rose .7%. Economists expect more declines as the prolonged recession cuts demand for new shopping center and office buildings. Another problem they say is the difficulty for builders to get financing.
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