January 24 2014 Copyright (c) 2014 Business Research Services Inc. 301-229-5561 All rights reserved.

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  • Fed contracts shrink by $58B

         Total federal contract awards dropped by $58 billion in fiscal 2013, which was about an 11% reduction from the year before. That is the steepest decline in a decade.

         Contract awards totaled $460 billion for fiscal 2013, down from $518 billion in fiscal 2012, according to USASpending.gov.

         The Defense Department spent $308 billion on contracts in fiscal 2013, down from $362 billion in the prior year; DOE, $24 billion, down from $25 billion; HHS, $20 billion, up from $19 billion; and VA, $18 billion, up from $17 billion.


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