Federal Contract Spending Predicted to Drop in 2012

The market research group FedSources forecasts a slight decline in federal contract spending for 2012. President Obama’s 2012 budget would decrease government spending for contracted programs by about one percent, but if Congress passes deeper cuts as some have proposed, contract spending could decrease by up to five percent. These cuts will affect government construction projects in almost all sectors, including building restoration programs, border patrol construction and combat vehicle development. FedSources also reports that increased spending in clean energy technology may not translate into more opportunities for contractors. To read the entire article, click here.