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news index spending declines begin soon for nonresidential building and heavy project markets comments
news index spending declines begin soon for nonresidential building and heavy project markets commentsSpending declines begin soon for nonresidential building and heavy project markets
February 06, 2009 - Jim Haughey
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02/06/2009 - posted by Stacie Wingfield
What is driving the large increase in manufacturing spend? This surprises me since overall spending is down, unemployment is up etc.
December construction spending was 0.7% below the peak level in June for nonresidential buildings and 1.4% below the peak level in November for heavy projects. However this is not yet a decline in the volume of construction work because of the collapse of construction materials prices in the last half of 2008, says Jim Haughey, chief economist for Reed Construction Data.