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NYBC: Spending, Employment Drop Off Projected for 2013

NEW YORK CITY-The New York Building Congress projected Wednesday that construction spending and employment will drop off in 2013, the result of a parallel drop in government spending on infrastructure projects.

By Carl Gaines | Updated on October 26, 2011

NEW YORK CITY-At a New York Building Congress breakfast Wednesday, the group indicated that construction spending and employment have seen slight improvement of late, though it likewise projected gloomy days ahead, as government spending on infrastructure rolls back.

The NYBC’s “New York City Construction Outlook 2011-2013” predicts spending and employment to remain fairly steady until 2013, when problems could arise, though Seth Pinsky, president of the New York City Economic Development Corp., said that the city’s capital commitments were actually up.

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