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Pentagon's February contracts plummeted 48 percent
http://hamptonroads.com/2014/03/pentagons-february-contracts-plummeted-48-percentPentagon's February contracts plummeted 48 percent
By Jonathan D. Salant | Bloomberg News
© March 18, 2014
WASHINGTON
Pentagon contracts dropped 48 percent in February, extending a slump that has awards near the lowest level in almost two years.
The Defense Department announced contracts with a maximum value of $12 billion last month, compared with $23.1 billion a year earlier, according to data compiled by Bloomberg. They fell to $8.44 billion in January, the worst showing in at least 23 months.
Military officials "have sent a very clear message that they are going to be curtailing spending," said Larry Allen, president of Allen Federal Business Partners, a consulting firm based in McLean, Va. "And when they do spend, they're going to do so with a very close eye on price."
The delay in enacting a permanent federal spending bill and snowstorms that closed the government also contributed to the low contract awards in both January and February, Allen said.