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NEW YORK CITY-Private developers—especially in office—are driving an uptick in construction spending even as government’s share is ebbing, the New York Building Congress said Monday. The association projects overall construction spending in the city to reach $37.3 billion in 2014, up 24% from 2012 and up even more sharply from ’14 projections the association made last October.

At that time, the Building Congress forecast spending of $30.2 billion in 2013—its revised forecast calls for spending of $32 billion this year—and $29.1 billion in 2014. “The upward revisions in our forecast, from data compiled over the past few months, particularly for the private sector, are extremely encouraging,” Building Congress president Richard T. Anderson says in a release.  Although the effects of inflation and post-Sandy rebuilding are contributing factors, “there is no doubt that much of the gain is fueled by increased private-sector development activity and an improving economy.”

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