US Construction Spending Reaches Highest Level Since August 2008
Construction spending in August reached a seven-year high and climbed at the fastest rate since 2006, according to a recent analysis by the Associated General Contractors of America.
“There were widespread monthly and year-over-year gains in August for all major construction categories—private nonresidential, residential and public,” said Ken Simonson, the association’s chief economist. “Activity in all three categories has been accelerating recently and should continue rising into 2016, if contractors can find enough workers with the right skills to complete the projects underway and currently being designed or financed.”