NEW YORK CITY-The current economic downturn could lead to a drop in overall construction spending here over the next two years, with a sharp dip taking place in 2010, according to a report by the New York Building Congress released today. Spending, predicted to top out at a record $33.8 billion this year, is projected to drop to $33.4 billion next year, and then take a deeper dive to $26.2 billion in 2010.

The cuts are seen coming from across the board. Government, residential and commercial building is all expected to slow down.

But when announcing the results at a presentation in Midtown this morning, Richard Anderson, the Building Congress’ president, pointed out that $26.2 billion is still a significant number and would surpass the total in 2006.

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