Federal Contracting Dips 4.5% in 2012
December 6, 2012
Agencies cut contract spending by $24 billion last year, an amount a senior administration official hailed as “historic.”
Joseph Jordan, the federal procurement policy administrator at the Office of Management and Budget, told reporters Thursday that agencies reduced their contract spending by 4.5 percent — from $537 billion in fiscal 2011 to $513 billion in 2012.
“This decline represents a dramatic reversal of the unsustainable 12 percent contract spending growth rate experienced from 2000 through 2008,” Jordan wrote in a Dec. 6 blog post.