Prospect for Expansion of Construction in 1934
Consideration by the administration of plans to facilitate residential construction improves the prospect for expansion during 1934 of the upward movement in the construction industry that got under way last summer. Before the depression residential building exceeded in value all other separate types of construction, and its decline from 1929 to 1933 was more severe than that of any other branch of the industry. The government sought to counteract the general building decline by initiating a large public works program. Notwithstanding the magnitude of the appropriations voted for this purpose, it was evident that a widespread revival of private building was necessary if the construction industry, as in 1921, was to play a major part in leading the ...