Construction Spending Up July to August as Public-Sector Projects Decline
Construction spending increased by 1.4% between July and August and was up 0.9% compared to August 2010, the Associated General Contractors of America in a recent analysis of new Census Bureau data. Association officials noted that despite this month’s increases, public-sector activity has declined even as private-sector demand has steadily increased this year.
“There is no doubt that declining public-sector demand for construction is dragging down the entire construction industry,” AGC CEO Stephen Sandherr said. “If it wasn’t for the modest increase in private sector demand, the hard-hit construction industry would be in much worse shape this year.”