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October construction numbers trend down

Posted By Tom Jackson On December 1, 2008 @ 2:21 pm In Construction News | No Comments

The Commerce Department logs a 1.2 percent decline in the month of October [1].  The not-quite-so-bad news in all of this is that non-residential construction is only down 0.7 percent, federal construction spending was up 5.5 percent and state and local spending rose 0.3 percent. Still, with residential down for so long a lot of residential site development contractors have migrated towards commercial work, making for increasingly aggressive bidding.

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[1] 1.2 percent decline in the month of October: http://www.iht.com/articles/ap/2008/12/01/america/Economy.php

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