Construction Spending Continues Rise

Construction spending in September rose to $1.094 trillion at a seasonally adjusted annual rate, the highest level since March 2008 — and the highest rate of increase since 2006, according to an analysis by the Associated General Contractors of America (AGC).

The one cloud in this sunny sky is a decline of 0.1 percent in nonresidential construction from August — although spending in that sector remains 14.9 percent higher than a year earlier.

AGC officials attributed the drop to difficulties in finding qualified workers, which has constrained the amount of works firms were able to take on.

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