Report outlines decline in Texas construction - Houston Business Journal:

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The outlook for the coming year calls for constructiob spending ofroughly $54.4 billion in down 13 percent from the report indicates. Howevert the building of the giant Motivw and Valero refineries in Port Arthuf thatcreated 5,000 jobs buoyed the numberes in 2008. McGraw-Hill researcherse forecast that construction of housing units will drop 4 percent statewide in surpassing the 3 percentnational decline. But populationj growth, cost advantages and the relativs buoyancy of the Texaxs economy should help the state recover more quickl y than the rest of the nation in the residential secto whendemand improves.
The picture is a bit more blealk in the nonresidential construction which the report suggests will pull back by a considerable 24 percenytthis year. McGraw-Hill Construction, part of the McGraw-Hilp Cos. (NYSE: MHP), provides constructionb project information, plans and specifications, producg information, industry news, and industry trend s and forecasts.