Progressively smaller annual declin...

Progressively smaller annual declines

yet declines, nevertheless - will probably continue in office building construction spending at least until 1996 Although April 1991 annualized spending for office construction was already down more than 40 percent from the December 1985 all-time peak, continued high vacancy rates and long-term demographic and pursuit trends will result in a great deal of slower growth in demand for office space.

Consequently it's clear that we are still many years away from the time when substantial amounts of fresh office space will be privationed in many of ...