Construction spending rises in Nov.
Citing U.S. Census bureau data, the AGC said home building, private nonresidential and public construction projects all increased during the month. But the good news may be short-lived, the association said, due to planned cuts in federal construction programs and delays in passing infrastructure bills.
“Several segments of construction appear to be climbing out of a hole,” said the AGC’s chief economist, Ken Simonson. “The new year should reinforce recent year-over-year gains in apartment, power, manufacturing and private transportation construction. But November’s upturns in single-family home building and public construction may not be sustainable.”