Commercial Construction Spending Seen Off 14%

New York, NY, Sept. 14, 2010--A new report by Standard & Poor's Ratings Service says that commercial construction spending will probably fall 14% this year.

Falling demand for space in offices and malls and rooms in hotels and multi-family housing, as well as tight credit continue to plague the sector.

This year's anticipated decline follows a 20% decrease last year. The hardest hit sector is office construction.