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According to Dodge Construction potentials, planned nonresidential development in the District, in terms of square footage, held steady at low levels in January. District activity remained below year-earlier levels, down nearly 50 percent. Declines remain largely driven by Florida and Georgia.
Reports from District contacts indicate that commercial construction across the region remained at low levels during January and February. Most contractors reported that activity was even with fourth quarter 2009, while a few reported continued weakness. A little more than half reported that backlogs were similar to fourth quarter levels but below year-earlier levels. Most reported that demand for new construction remained very weak. Looking ahead, the majority of contacts anticipate that commercial construction activity for the remainder of the year will be mostly flat.
