Construction forecast says industry will rebound next year

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Government efforts at reducing the recession’s effects will be a boon to construction companies, who are expected to see an uptick in activity next year. According to the McGraw-Hill construction forecast released Friday, construction starts, a measure of future construction spending, will rise 11 percent to $466.2 billion in 2010. Single-family housing will account for $162.2 billion, an increase that should help to compensate for sustained losses in the commercial sector. The numbers are dependent on continuing low mortgage interest rates and an extension of the $8,000 first-time homebuyer tax credit, the report said.

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