Revised McGraw-Hill Economic Forecast Says Construction Spending Will Slide 15% in 2009

The 2009 Construction Outlook Spring Update recently published by McGraw-Hill Construction, New York, says that while construction spending will drop to $463.1 billion in 2009, the decline will be cushioned by the recently enacted stimulus legislation, the American Recovery and Reinvestment Act of 2009.

Authored by Robert Murray, vice president of economic affairs for McGraw-Hill Construction, the report also said public works will see the most immediate benefit from the stimulus act,

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