An Alaska industry group has predicted a decrease in 2020 construction spending due to a lower number of earthquake repair projects.

The Alaska Journal of Commerce reports the Associated General Contractors of Alaska forecast a decline in construction spending this year of $500 million, or about 6.9%.

The organization's annual spending forecast released Thursday was compiled by Alaska research firm McDowell Group.

AGC Executive Director Alicia Siira says the projected loss is largely due to a dwindling number of repair projects stemming from the 7.1 magnitude earthquake that struck southern Alaska in November 2018.

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