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Pentagon's contract awards plummet in January

Uncertainty ahead: The defence spending cuts helped make last year the fourth consecutive year in which contract awards declined, the longest stretch since Ronald Reagan was president. - PHOTO: AFP

[WASHINGTON] Poet TS Eliot called April the cruelest month. Defence contractors would pick January.

The Pentagon's contract awards dropped 66 per cent from December to US$8.44 billion, the lowest level in at least 22 months, according to data compiled by Bloomberg. The previous low during...

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