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Construction spending slips in February

Both Nonresidential and Residential Spending Retreat from January Levels amid Extreme Winter Weather; Association Posts Inflation Alert to Aid Understanding of Squeeze on Nonresidential Construction Firms.

Construction spending slumped in February as unseasonably severe weather hammered the industry and a decline in new projects squeezed nonresidential contractors experiencing rising costs and delivery times, according to an analysis of new federal construction spending data by the Associated General Contractors of America. The association posted a Construction Inflation Alert to inform project owners and government officials about the threat to project completion dates and contractors’ financial health.

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