February construction Spending Declines but Remains Higher than Last Year

Construction spending in January retreated slightly, according to an analysis by the Associated General Contractors of America (AGC) — but the seasonally-adjusted level of $967 billion was still 2.1 percent higher than in February 2014.

AGC officials say that the decline is the result of lessened demand for single-family homes and declining public sector investment — the latter caused in part by gridlock in Washington.

“Similarly mixed results are likely to recur throughout 2015 as the economy continues to grow but potential homebuyers remain hesitant and governments face difficult trade-offs on spending priorities,” said Ken Simonson, the association’s chief economist.

The association’s new #DriveBetterRoads campaign is intended to encourage both congress and the Obama administration to cooperate to pass bills that will boost spending on roads and other critical infrastructure.

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As construction spending grows, so do opportunities to incorporate energy-efficient designs in your projects — and to earn the Section 179D deduction (up to $1.80 per square foot). As the country’s leading specialist in this deduction, Concord has the experience, knowledge and capacity to handle any project, at every step of the way. Contact us at 888-897-5445 or via the following link, and find out what Concord can do.