What 2010 Holds

摘要

Construction spending growth for both heavy/engineering and nonresidential building projects dropped sharply in 2009 after three years of strong expansion. Meanwhile, the long housing recession finally ended in the spring. Construction spending will continue to decline into the winter of 2010, although most of the decline in this cycle has already occurred. The cumulative decline will be 24 percent, measured in current dollars, and more than 30 percent after adjustment for project cost inflation.