Title: WHAT ROAD PROFESSIONALS CAN EXPECT FROM 2002
Abstract: Although state spending is forecast to drop sharply because of the recession, federal increases will produce a net 2% rise in highway funding for 2002. The total is expected to reach $49.9 billion, up from $49.01 billion. Much of the drop comes from falling home sales and residential construction, which requires new streets. The article provides graphs of trends in gross domestic product, highway construction spending, total construction spending, construction materials prices, heavy construction spending and housing starts. States have identified more than $14 billion of projects that could be activated if more federal dollars materialize, but the picture is not clear.
Publication Year: 2002
Publication Date: 2002-01-01
Language: en
Type: article
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