Construction Spending Slips but Remains Ahead of Last Year

It’s glass-half-empty/glass-half-full time in the analysis of May construction spending conducted by the Associated General Contractors of America (AGC).

Spending for May was 0.8 percent lower than in April, but spending is up robustly for the first five months of the year, compared to the same period in 2015. And Ken Simonson, the association’s chief economist, observed that in light of previous upward revisions of March and April spending, the optimistic interpretations makes more sense.

“It appears there will be plenty of activity in the remainder of 2016—if contractors can find the workers they need,” Simonson said.

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