Construction Spending Nationwide Edges Higher in April
Total construction spending registered a small gain in April but showed mixed patterns among major segments, according to a recent analysis of new Census Bureau data by the Associated General Contractors of America.
“The report underscores patterns that have prevailed for several months: surging home and apartment construction, volatile private nonresidential activity and shrinking public investment,” said Ken Simonson, the association's chief economist. “This uneven result is leading to selected materials cost increases and localized reports of worker shortages despite continuing hard times for many contractors and workers.”