Contracting dip forecasted

      Bloomberg Government is projecting a dip in the federal government’s spending on civilian agency contracts in fiscal 2022 to between $201 billion-$224 billion, down from $241 billion last year.

      Federal professional services are expected to decline by $9.2 billion, while IT services could fall by $6.4 billion.

      Lower spending at HHS, USDA and Homeland Security are contributing to the lower forecast, including less spending on the COVID-10 pandemic.

      Bloomberg Government estimated total fiscal 2022 contract spending at $599 billion to $641 billion, down from $650 billion last year.

More information:
Bloomberg Government story: https://bit.ly/3MCnfwk

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