Construction spending throughout the Philadelphia region is
off by 5 percent compared with last year, according to year-to-date data from
McGraw Hill Construction.
A tad more than $3.3 billion has been spent so far this year
on both non residential and residential construction projects. Last year, $3.5
billion was spent during the first 10 months of the year. Non-residential
building, which includes office, retail, hotels, educational, warehouses and
other commercial properties, is off by 20 percent, or $1.8 billion compared
with $2.2 billion. Residential building, which accounts for single and
multifamily construction, is up by 21 percent to $1.5 billion from $1.2
billion.
The data covers a geographic area covering Philadelphia,
Camden and Wilmington.
Source: Philadelphia
Business Journal
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