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Contract Spending by U.S. Declined Last Year by Most Since 1997

U.S. government spending on contracts fell 3.1 percent last year, the biggest one-year decline since 1997, according to a Bloomberg Government study.

Contractors such as armored vehicle-maker Oshkosh Corp. suffered the most as the Iraq war ended and troops continued to withdraw from Afghanistan, according to the report ranking the top 200 federal suppliers. Booz Allen Hamilton Holding Corp., a top cybersecurity vendor, was among the companies that advanced.