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Construction in 2008 will decline by 2% on top of an anticipated decline of 8% in 2007, predicts Robert Murray, vice president of economic affairs at McGraw-Hill Construction, in his annual fall forecast released Oct. 25, 2007.
Total construction starts, an accepted measure of short-term projected construction activity, reached a record $668.9 billion in 2006. They are expected to decline to $626.7 billion in 2007 and reach...