Heavy construction spending up 0.3% in September
The small September rise in heavy construction spending interrupts an 8-10 month cutback period in this market with the decline in spending reaching 3-4% by next spring, about 5-7% after adjusting for rising project costs. Private facility investment has recently begun to decline under stress from reduced capacity needs during the recession. This decline will accelerate over the next year, especially for power projects where starts have dropped by nearly half.
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Heavy construction spending up 0.3% in September
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