Weakness Persists in the Construction Industry
Posted on Apr 01, 2010 under Construction News |Even though many export-oriented activities strengthened, weakness persists in the U.S. construction market. The Commerce Department announced construction spending dropped 1.3 percent in February to a seasonally adjusted annual rate of $846.23 billion. This is the lowest level in over seven years as well as the fourth consecutive month of decline. Builders are expected to cut spending by as much as one percent. The construction industry continues to be a challenge for the economic recovery and there are not many indications that this decline has reached a bottom. So it looks like it’s going to take a little longer for the construction industry to rebound from the Great Recession.