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Thursday, October 25, 2007

WSJ: Commercial Construction May Slow

by Calculated Risk on 10/25/2007 02:13:00 AM

From the WSJ: Commercial Construction May Slow (hat tip Jim)

The pace of U.S. commercial-construction activity ... is showing signs of slowing and could drop next year for the first time since the early part of the decade ...

In a closely watched report expected to be released today, McGraw-Hill Construction will forecast that spending on commercial and manufacturing buildings, such as offices, warehouses and hotels, will decline 7% next year, in dollar volume, and 10% in the number of square feet of space built. That would be a sharp turnaround from this year, when commercial and manufacturing construction is expected to end the year up 11% in dollar volume.