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Japan Quake Won’t Shake Up Costs as Recession Trumps Rising Prices

Publication Date: 3/23/2011
Author: Tim Grogan and Johanna Knapschaefer
Format: HTML

Despite the headline-grabbing attention of federal deficits and budget cuts, the real problems facing construction remain the prolonged recession in the private nonresidential building markets, the weakening of the once-dependable public markets, a stalled housing recovery teetering on the brink of slipping back into recession and high unemployment. That does not add up to a quick recovery, which in turns equals low inflation abetted by desperate bidding. The sudden turnaround from the Keynesian economics of stimulus to the Hoover-era economics of austerity only make the outlook bleaker.

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