Year end sees slowdown for contractors

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The value of nonresidential construction starts during 2007 was up 11.2 percent from 2006, according to Reed Construction Data, a national construction industry research firm.

On a month-to-month basis, job starts increased 5.2 percent during December after weak showings during October and November. However, starts weakened at the end of 2007, with the final three months recording a 17.6 percent fall from the previous three months.

“This decline was more than the usual seasonal decline at the beginning of winter,” said Ken Simonson, chief economist for the Associated General Contractors of Amercia.