Construction Spending Hits 17-Month High in November
Construction spending totaled $807 billion in November, the highest level since June 2010, as homebuilding, private nonresidential construction and public construction all increased compared to October, the Associated General Contractors of America reported in a recent analysis of new Census Bureau data.
Association officials cautioned, however, that public spending will drop even further in 2012 because of delays in enacting needed infrastructure bills and planned cuts to many federal construction programs.