Construction spending went up in August
Lauren Heartsill Dowdle | October 5, 2010
Total construction spending went up 0.4 percent between July and August to $812 billion. This rise was driven by increases in public construction activity, including stimulus and base realignment projects, according to an analysis of new Census Bureau data released by the Associated General Contractors of America.
Association officials cautioned, however, that private residential and nonresidential spending both continued to shrink as private-sector demand for construction remains weak.
Private residential construction dropped 1.7 percent during the past year, while private nonresidential spending dropped 24 percent. All 11 categories of private nonresidential construction in the Census Bureau’s press release had declined from a year earlier, most by double-digit percentages.
View the full report here.
MORE FROM Economics
- VIDEO: Could ‘Beer Money’ help solve our infrastructure problem?441 Views
- Doosan launches Tier 4 Final non-DPF compact diesel engines163 Views
- Volvo partners with Lego Group161 Views
- Case rolls out Tier 4 Final wheel loaders158 Views
- DOT Chief Foxx points to $2.5 billion for transit in Obama’s proposed budget152 Views