Mcgraw-Hill Gauges 6 Percent Drop In New Construction

In its 2007 Construction Outlook Midyear Update, McGraw-Hill reports that new construction is pacing $641.4 billion, or 6 percent below the 2006 level; single family housing activity remains in decline, with renewed expansion not expected until 2008 at the earliest; the dollar value in institutional buildings is on pace for a 7 percent gain, owing to public building and education and healthcare facility work; and, commercial office work continues to rise

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