Mild Development Spending Rises
8 May 2009
Mild improvements in development spending has been noted in the US which may signal a slight improvement in the overall commercial real estate business. Many development projects have been put on hold as the economy slid into recession with millions losing their jobs in the construction industry. The effects of the economy has reached far beyond the borders of the US with the world slipping into recession as the markets tumbled affecting most global industries.
Good news like the mild increase in housing sales last February are very much welcome, even if they last only a very short time. Life has indeed become a bit harder as the world tries to pick up itself from the economic crunch that has gripped the world. Coupled with the ill effects of the developing “swine flu pandemic”, more economic troubles are seen ahead. With it spreading like wildfire, it stands to worsen the already bad economic standing of most countries who have been clamoring to recover by pushing cash out of their government coffers to help boost their respective economies.
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