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Wed 02 Feb 2009Construction spending to fall to €10.5bn, Davy says
Irish construction spending will fall to €10.5 billion ($13.5 billion) next year from a peak of €39 billion in 2007 as a new home slump spreads to commercial building, according to Davy.
“The deep recession in the sector will intensify if anything over the next year,” Rossa White, chief economist at Davy wrote in a note today. “Most of the incremental weakness in activity will shift from housing to non-residential.”
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