Construction Spending Hits 17-Month High

Construction spending reached $807 billion in November 2011, the highest level since June 2010, according to an analysis of Census Bureau data by the Associated General Contractors of America (AGC).

But while public construction joined the other sectors in the upward trend, AGC warns the upswing may not sustain itself because of cuts to federal construction projects and delays in needed infrastructure legislation.

“If lawmakers don’t act swiftly, they risk undermining a long-awaited recovery for the construction industry that could put tens of thousands of people back to work,” said Stephen E. Sandherr, the association’s chief executive officer. “These cuts aren’t helping balance the budget, but they are keeping a major segment of our economy in check.”

For more information, go to this link: https://www.agc.org/news/2012/01/03/construction-spending-hits-17-month-high-november-monthly-gains-all-segments-public

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