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Construction industry gearing for increased economic woes: Mississippi home builders struggling to move inventory.

Publication: Mississippi Business Journal
Publication Date: 15-DEC-08 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Has the construction industry hit rock bottom? Not yet, say economists, who predict that won't happen until mid-2009. Despite post-Katrina rebuilding activity on the Gulf Coast, Mississippi, which is usually insulated from wide economic swings experienced nationwide, is feeling the crunch.

"Housing starts and prices continue to fall," said Darrin Webb, an economist with the Mississippi Institutions of Higher Learning. "This sector continues to serve as a drag on the rest of the economy."

Construction is among many sectors that have been trending downward in seasonally adjusted employment, declining 2.9 percent between January and September 2008.

"Interestingly, the value of...

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